Israel High Tech Scene March 16 – March 22

Tel Aviv at sunset, Israel Startup Israel

Israel High Tech Scene March 16 – March 22

New Startups / VC Funding
New Israeli Startup Lumana Set To Take On $38 Billion Industry
New Israeli startup Lumana, which was founded by a former senior exec at Intel, offers a next-generation video security platform that uses artificial intelligence (AI) and distributed hybrid cloud architecture, enabling organizations to “unlock the full potential of their visual data.” Lumana just came out of stealth with a $24 million seed funding round led by Norwest and S Capital.

Lumana says it is positioned to take advantage of… Read More Here

Nucleai Raises $60 Million For Cancer Treatment Tech
Nucleai, an Israeli medtech startup that uses artificial intelligence (AI) powered spatial biology to transform drug development and clinical treatment decisions for precision cancer treatments, raised $14 million in new investment led by M Ventures. The raise brings Nucleai’s total funding to date to $60 million.

Spatial Biology is the study of tissues within their own 2D or 3D context. Think of how a GPS system captures location coordinates within an area and tracks your location at a given time – the same principle can be used… Read More Here

Watch Out Intel! Israel’s Hailo Is Advancing With Chip Making
Watch out Intel! Hailo, an Israeli unicorn that makes computer chips, just raised another $120 million in its Series C fundraising round. The company has now raised $340 million to date.

Halio hit the coveted unicorn status with more than a $1 billion valuation in 2021 after it raised at that time a paltry $100 million.

Israel Startup Nation is known for many things. One is that it is… Read More Here

Other Business Stories
Bank Of Israel Finds Gaza War Seriously Affected Israeli Economy
In 2023, economic developments in Israel were markedly affected by two significant domestic events: the government of Israel’s proposed judicial reform legislation, which led to huge discourse and massive protests in the country because many felt that it would harm Israel’s democracy, and the Swords of Iron War against the terrorist organization Hamas in Gaza that broke out after the barbaric massacre enacted by Hamas on October 7. This is according to the Bank of Israel’s (BOI) report for the year 2023 which was presented to Prime Minister Benjamin Netanyahu by BOI Governor Prof. Amir Yaron.

Governor Yaron said October 7 “created a… Read More Here

Israel Sees Massive Increase In Reported Hacking Attempts After October 7
Israel saw a “significant” increase in reports of cyber incidents, such as hacking attempts, in 2023 as compared to 2022. Israel’s National Cyber Directorate published its report that shows a jump of 43% in the number of reports it received in 2023, with a sharp increase coming after the start of the Iron Swords war against the Hamas terrorist organization in Gaza which was sparked by Hamas’ October 7 massacre, comprising 61% of all such reports made in 2023.

This news should come as little surprise… Read More Here

Roman Abramovich Charitable Donation Blocked By Israel’s Supreme Court
Russian oligarch Roman Abramovich’s $2.2 million donation to the Israeli non-profit organization ZAKA must now be returned after Israel’s High Court of Justice ruled that Israel’s Mizrahi Tefahot Bank cannot transfer the funds from his account due to international sanctions against him. A lower court had previously ruled the funds could be transferred since it was a charitable donation and the recipient should not be penalized along with Roman Abramovich.

In its ruling, the court accepted the bank’s argument that it could not transfer the funds because “any attempt to whitewash this or to turn… Read More Here

Science
Israeli Scientists Find Way To Stop Breast Cancer From Metastasizing To Bones
Israeli scientists have made yet another breakthrough in the treatment of cancer. Researchers from Tel Aviv University found that a combination of drugs already available on the market can hinder bone metastasis and improve survival in cases of breast cancer.

Tel Aviv University scientists developed a new therapeutic strategy based on existing medications, to inhibit bone metastasis in breast cancer patients. Using both an animal model and tissue samples from patients in Israel… Read More Here

Scientists Find Sephardic Jews More Likely To Have Early-Onset Alzheimer’s Disease
In what they are calling a huge breakthrough, Israeli scientists say they have found that a person’s ethnic background determines the likelihood of one’s developing early-onset Alzheimer’s disease. Specifically, Sephardic Jews (those of Middle Eastern origin) are more inclined to suffer from the disease than Ashkenazi Jews (Jews of European origin).

If confirmed, this could lead to new ways to uncover which people are most likely to develop Alzheimer’s disease, possibly through genetic testing… Read More Here