Tel Aviv at sunset, Israel Startup Israel
Israel High Tech Scene August 12 – 18
New Startups / VC Funding
Israel Startup Nation Exits 2010-2022
Israel’s Central Bureau of Statistics (CBS) released the data on the exits of the country’s exits for the years 2010 – 2022. There is a reason why Israel has been dubbed “Startup Nation.”
The data, however, shows that the number of exits dropped in 2022 over 2021; even though, the world had finally exited the Covid crisis. This may be attributed to the global financial crisis related to the Russian Invasion… Read More Here
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Israeli Gaming Startup Candivore Gets $100 Million Investment
Israeli gaming startup Candivore, the developer of one of the most popular mobile games, Match Masters, received $100 in investment from U.S. private equity firm Haveli Investments, L.P. At the same time, Configu, an Israeli startup offering a configuration management platform, raised $3 million in pre-seed funding led by Cardumen Capital.
Founded in 2021, Configu is an end-to-end configuration management SaaS platform enabling R&D teams to prevent critical production failures… Read More Here
IPOS and Unicorns
Tel Aviv University Number Two Worldwide In Making Unicorns
Tel Aviv University in Israel ranked second overall on a list of the most successful universities around the world to produce new unicorns. A unicorn is defined as a new firm that is still classified as a startup and already has a valuation of one billion dollars or more.
The survey was compiled by Stanford University Business School Professor Ilya Strebulaev. And it makes sense that the survey came out of Stanford as it leads the world by far in unicorns established at 310. While Tel Aviv University… Read More Here
Science
Israeli Researchers May Have Improved Therapy For Lung Cancer
Researchers from the Weizmann Institute of Science in Israel said they have identified a biomarker that they say may one day enable a subgroup of lung cancer patients to benefit from relapse-free treatment.
Nonsmokers who develop lung cancer can be treated effectively with new drugs, they say, but their tumors refuse to surrender without a fight. The drugs stop… Read More Here
Israeli Scientists Make Breakthrough in Immunity Research
Israeli researchers from the Weizmann Institute of Science have discovered a new immune strategy that protects bacteria and more advanced species, from coral to bees.
Every time we make a call, send a text message or watch a video, some of the energy stored in the cell phone battery is depleted. Living cells also store energy in “currencies” they can cash in when needed, in order to fuel life processes. The main energy currency of all living things on Earth – the lithium battery that powers the living world, as it were – is a molecule known as ATP. But even though charging cells with ATP molecules is of vital importance, it has now been… Read More Here
Israeli Study Shows People Have Positive Perception When Meeting Strangers
Israeli researchers from Tel Aviv University have learned something very interesting about human interactions. Apparently, the mere anticipation and desire for new relationships can cause us to have positive feelings toward someone we meet for the first time.
It’s like that old expression: A stranger is just a friend who you haven’t made yet. That may not only be true, but it may actually be likely if the new research is… Read More Here
Mergers and Acquisitions
Intel Drops $5.4 Billion Plan To Acquire Tower Semiconductor
Intel has been forced to give up on its planned $5.4 billion acquisition of Israel’s Tower Semiconductor, a leading foundry for analog semiconductor solutions. The reason given was the failure to receive the approval of Chinese regulators for the acquisition. And Vesttoo, an Israeli insurtech startup and a unicorn that has been rocked by recent allegations of fraud, is now reportedly seeking Chapter 11 bankruptcy protection.
In July it was reported that Vesttoo investors allegedly provided fake letters of credit (LOCs) to insurers for reinsurance transactions… Read More Here
Other Business Stories
Fitch Preserves Israel’s A+ Rating but with Warnings
International credit ratings agency Fitch reaffirmed Israel’s ‘A+’ sovereign credit rating while giving the country’s economy a “stable” outlook. However, the firm did have some bad news for Israel too, specifically regarding the country’s current political turmoil surrounding a controversial government judicial reform plan.
And the reaffirmation means that Fitch did not raise Israel’s rating. This after the firm hinted in May that it would be amenable to raising… Read More Here
$4.3 Billion Arrow Missile Sale to Germany Gets U.S. Approval
The $4.3 billion deal to sell Israel’s Arrow-3 missile, part of Israel’s vaunted Iron Dome missile defense system, to Germany, the largest such defense deal in Israel’s history, has been approved by the U.S. government. American approval is required for any deal involving the sale of Iron Dome related technologies because the U.S. is partnered with Israel in its development.
Germany is now the first foreign nation to acquire this Israeli technology and, expects to take possession of the Arrow-3 by the… Read More Here
Israel ICL Breaks Ground On $400 Million St. Louis Plant
ICL (formerly Israel Chemicals Ltd.), an Israel-based global specialty minerals company, broke ground on its $400 million lithium iron phosphate (LFP) cathode active material (CAM) manufacturing plant in St. Louis. ICL stated that this is expected to be the first large-scale LFP material manufacturing plant in the United States.
The company was awarded $197 million for the project through the Bipartisan Infrastructure Law funding, which is subject to the completion… Read More Here
RAFAEL Advanced Defense Systems Signs New Deal for Typhoon Systems
RAFAEL Advanced Defense Systems Ltd. won a new contract with an Asian nation to provide comprehensive maintenance support services for operational systems employed by its navy. The multi-year agreement is estimated at a value of $30 million and will include maintenance services for the navy’s TYPHOON and MINI-TYPHOON remotely-controlled naval weapon stations, Naval SPIKE ER and NLOS missile systems, EO surveillance systems, as well as EW Integrated Decoy Systems (IDS).
As is usually the case, Rafael did not reveal the name of… Read More Here
