Tel Aviv at sunset, Israel
Israel High Tech Scene August 24 – August 30
New Startups / VC Funding
Israeli Startup Rep AI Launches World’s First AI Concierge
Rep AI Technologies Inc., an Israeli startup and the developer of the world’s first AI Concierge, has secured $8.2 million in funding. The investment round was led by Osage Venture Partners (OVP), with participation from Oryzn Capital and Flashpoint Venture Capital. The funds will be used to accelerate the development of the company’s e-commerce sales tool.
Leveraging a proprietary blend of behavioral AI and large language models (LLMs), the tool empowers merchants to offer personalized sales assistance at scale, converting more website visitors into paying customers. The technology… Read More Here
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FDA Clears Israel’s AISAP’s AI-Powered Cardiac Ultrasound Software for Point-of-Care Diagnosis
AISAP, a medical technology company specializing in AI-powered Point-of-Care Assisted Diagnosis (POCAD) solutions for medical ultrasound, has secured 510(k) clearance from the FDA for its innovative AISAP CARDIO software platform. This groundbreaking platform, the first of its kind, leverages AI to assist clinicians in cardiac ultrasound (POCUS) diagnosis.
The cloud-based CARDIO software integrates four computer-assisted diagnosis (CADx) modules for valvular pathologies and eight key measurements into a single, comprehensive package. It automatically generates… Read More Here
Politics
6 Israeli Hostages’ Remains Recovered in Khan Yunis, Gaza: Bodies Returned for Burial
In a joint operation by the IDF (Israel Defense Forces) and the Shin Be (Israel’s General Security Service – anti-terror) the remains of six Israelis who were killed in Gaza were recovered in Kahn Yunis and returned to Israel for burial. The victims were all kidnapped during the October 7 Hamas massacre and then murdered at some point during their captivity in Gaza.
The victims whose remains were recovered were Yoram Metzger…. Read More Here
Israeli Hostage Families Storm Gaza Border Fence in Mass Protest After 11 Months of Hamas Captivity
A large group of relatives of Israelis from the Bring Them Home Now Organization still held hostage by Hamas terrorists in Gaza after nearly 11 months marched down to the border in a convoy from Tel Aviv and breached the border fence Thursday morning.
Kidnapped family members who left in a convoy from Tel Aviv arrived near the border, where they set up loudspeakers and called out to their loved ones – before breaching the fence. Over 300 vehicles and thousands of… Read More Here
Science/Culture
Rare First Temple Era Stone Seal Unearthed in Jerusalem Archaeological Dig
A remarkably rare and unique stone seal from the First Temple period, dating back approximately 2,700 years, was unearthed near the Southern Wall of the Temple Mount in the Davidson Archaeological Garden during excavations conducted by the Israel Antiquities Authority and the City of David organization. The seal features a name inscribed in paleo-Hebrew script and a winged figure.
The object, which was engraved with mirror writing, served as both an amulet and a tool for legally signing documents and certificates. It has a convex cut on each side and a hole drilled through its length, allowing it to be strung onto… Read More Here
Ancient Roman Wall Paintings Unveiled in Ashkelon: Rare Beauty Revealed to Public
Two vaulted tombs, dating back at least 1,700 years, featuring remarkably well-preserved wall paintings of Greek mythological characters, people, plants, and animals, will soon be unveiled to the public for the first time. This archeological project is a result of a collaborative effort between the Ashkelon Municipality and the Israel Antiquities Authority to integrate the city’s rich heritage into its public spaces, benefiting both residents and visitors.
These ancient vaulted structures are situated… Read More Here
Mergers and Acquisitions
Cisco Acquires Israel’s Robust Intelligence: Bolstering AI Security in Tech Giant’s Latest Move
Cisco, the major worldwide communications firm, is acquiring Robust Intelligence, an Israeli cybersecurity startup that helps businesses test their Artificial intelligence systems to prevent their failure. The terms of the deal for Robust were not disclosed.
“Our intent to acquire Robust Intelligence marks an exciting new chapter in our journey to secure the AI-driven enterprise,” Cisco said in a statement. “Together, we’ll push the boundaries of AI security, empowering organizations to embrace AI’s full potential while safeguarding their critical assets. Stay tuned for… Read More Here
Israel Acquisitions Corp, Pomvom Ltd End Merger Deal: Business Combination Agreement Terminated
Pomvom Ltd., an Israeli technology company publicly traded on the TASE that develops experiential content for amusement parks and attractions globally, and Israel Acquisitions Corp’s publicly-traded special purpose acquisition company, have terminated their proposed SPAC merger. The decision, they said, was made in response to shifting global market conditions.
Pursuant to the Termination Agreement, the parties also mutually agreed to waive any claim or demand on the part of any of the parties… Read More Here
Check Point Acquires Cyberint: Bolsters Threat Intelligence in Major Cybersecurity Move
Check Point AcqCheck Point Software, a leader in cybersecurity, is expanding its threat intelligence capabilities through the acquisition of Israeli cybersecurity firm Cyberint Technologies Ltd. Cyberint’s innovative external risk management solutions will be integrated into Check Point’s Infinity Platform, enhancing its Security Operations Center (SOC) and managed threat intelligence offerings. Check Point characterized this as a strategic move that will enable the firm to provide customers with more comprehensive and proactive threat prevention and detection solutions.
While the terms of the deal have not yet been revealed… Read More Here
Other Business Stories
Bank of Israel Keeps Interest Rate Steady at 4.5% in Latest Monetary Policy Decision
The Monetary Committee of the Bank of Israel decided to leave the interest rate unchanged at 4.5 percent. In announcing the decision, the Bank said that since the outbreak of the war in Gaza, and in recent months in particular, geopolitical uncertainty and its economic ramifications have increased.
The level of economic activity is lower than the trend line and even lower than its level in the corresponding quarter of 2023 and is greatly impacted by… Read More Here
Israeli Work Management Platform Monday.com Hits $1 Billion ARR
Monday.com, an Israeli firm that offers a software platform that empowers teams to manage all their work in one place, has crossed a major financial hurdle by reaching $1 billion in annual recurring revenue (ARR). This milestone comes just ten years after launching their Work OS and eight years after achieving $1 million in ARR.
Founded in 2012, the Tel Aviv based Monday.Com specializes in project management, team management, SaaS, communication, production tracking, team collaboration, and work management. The company offers… Read More Here
