Tel Aviv at sunset, Israel
Israel Tech Startups and Innovations: Weekly Roundup November 16 – November 22, 2024
New Startups / VC Funding
Israeli Startup Twine Launches AI Employee ‘Alex’ for Automated Identity Management and Security
Twine is an Israeli-based cybersecurity startup. The firm raised $12 million in seed funding co-led by Ten Eleven Ventures and Dell Technologies Capital, with participation from angel investors including the founders of Wiz. The company’s first digital employee, Alex, learns, understands and takes away the burden of identity management tasks – proactively completing the organization’s cyber objectives.
The surge in cyberattacks, fueled by the rise… Read More Here
Israeli AI Startup Converge Bio Accelerates Drug Discovery with Generative Platform
Converge Bio is an Israeli startup that offers a generative AI platform for accelerated drug discovery and development. The firm raised $5.5 million in seed funding, led by TLV Partners. Converge Bio’s platform uses large language models (LLMs) trained on biological and chemical data (DNA, RNA, protein sequences, and small molecules) to help biotech and pharmaceutical companies discover… Read More Here
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Israeli Fintech Startup TailorMed Solves Healthcare Affordability
Israeli startup TailorMed is a financial navigation technology fintech company that helps patients and healthcare providers remove financial barriers to care. The firm held a $40 million financing round combining equity and debt led by Windham Capital Partners. The debt facility was led by Poalim-tech, part of Israel’s leading... Read More Here
Prompt Security: Israeli Startup Revolutionizes Generative AI Protection for Enterprises
Prompt Security is an Israeli startup that offers generative AI security for enterprises. The firm raised $18 million in a Series A funding round led by Jump Capital, just ten months after raising $5 million in a Seed round of funding.
The alarming reality of AI security is underscored by… Read More Here
CommBox Launches AI-Powered Enterprise Platform for Omnichannel Customer Experience
CommBox is an Israeli startup that offers an enterprise-grade omnichannel, AI-powered customer experience platform. The firm raised a $15 million growth investment round from PSG Equity. This investment follows PSG Equity’s original 2021 investment and will be used to help enhance CommBox’s AI-powered… Read More Here
Politics
Israeli Justice Minister Yariv Levin Revives Controversial Judicial Reform Plan That Sparked 2023 Protests
Israel’s Justice Minister Yariv Levin is once again talking about bringing before the Knesset his government’s controversial judicial reform plan which it first put forward in January 2023, just a few months after it was first elected. Levin apparently feels the time has come to resurrect the reform plan after it was shelved due to the ongoing Iron Swords War against Hamas… Read More Here
France Appeals Court Decision to Allow Israeli Defense Companies at Military Trade Shows
The French government is appealing a court ruling that overturned its ban on Israeli defense firms from participating in arms shows in the country. If the government succeeds in its efforts, Israeli firms will be barred from participating in the Paris Air Show in June.
In October, French President Emmanuel Macron barred twelve Israeli defense companies from exhibiting at the prestigious Euronaval… Read More Here
IPOs and Unicorns
Israeli Cloud Data Security Startup Cyera Joins Super Unicorn Club with $3 Billion Valuation
Cyera is an Israeli startup offering cloud data security and a unicorn that is now a super unicorn with a $3 billion valuation. The firm hit that mark, doubling its previous valuation in just six months, when it raised $300 million in a Series D round of funding led by Accel and Sapphire Ventures.
Cyera hit the coveted unicorn status – a billion dollar… Read More Here
Mergers and Acquisitions
Salesforce Acquires Israeli Cloud Backup Firm Own for $1.9 Billion, Expanding Cloud Services Portfolio
Salesforce, an American cloud-based software company founded by Marc Benioff, took another step in its cloud dominance on Monday, finalizing its $1.9 billion acquisition of Israeli cloud backup company Own, formerly OwnBackup. The deal, first announced in September, was sealed with a cash transfer.
However, the $1.9 billion is much less than… Read More Here
Mediaocean Acquires Israel’s Innovid for $189 Million to Create Unified Omnichannel Ad Platform
Mediaocean, an American company that serves as a foundational partner for omnichannel advertising, and Innovid, a publicly traded Israeli software platform for the creation, delivery, measurement, and optimization of advertising, have entered into a definitive agreement in which Mediaocean will acquire Innovid. As part of the deal, Innovid will merge with Flashtalking to create a premier global, independent, omnichannel ad… Read More Here
Wiz Acquires Israeli Cloud Security Startup Dazz for $450 Million to Expand AI Capabilities
Dazz, an Israeli startup that offers AI-powered cloud security remediation, was acquired by Israeli cyber unicorn Wiz. While the terms of the deal were not disclosed, the Israeli financial publication Calcalist said it could be worth as much as $450 million.
Dazz’s platform will enhance Wiz Code, a powerful tool that… Read More Here
Other Business Stories
Extell Development CEO Gary Barnett Progresses with Significant Jerusalem Real Estate Venture
Gary Barnett, the American real estate developer and founder of Extell Development Company, is moving forward with his plans to develop sections of land in central Jerusalem that he acquired from the Greek Orthodox Church. The city of Jerusalem attempted to block the sale of the land because of all of the homes already there, but Israeli courts ruled against it.
Barnett bought a total of about 120 acres of land in these… Read More Here
US Prosecutors Unveil Extensive Bribery Charges Against Haifa Port Owner and Indian Business Figure Gautam Adani
The SEC has leveled serious charges against Gautam Adani, Sagar Adani, and Cyril Cabanes for their involvement in a massive bribery scheme. A consortium led by Gautam Adani’s Adani Group purchased the port of Haifa in Israel in 2023 for $1.15 billion.
A federal court in Brooklyn has unsealed a damning indictment… Read More Here
