New Startups / VC Funding
NeuReality Raises $35 Million for AI-As-A-Service
NeuReality, an Israeli startup that develops high performance AI computers for cloud data centers and edge nodes, raised $35 million in a Series A funding round led by Samsung Ventures, Cardumen Capital, Varana Capital, OurCrowd, and XT Hitech. The raise brings the company’s total funding to date to $48 million.
NeuReality was established in 2019 by CEO Moshe Tanach, VP of Operations Tzvika Shmueli, and VP VLSI Yossi Kasus… Read More Here
Nectin Therapeutics Raises $25 Million for Cancer Treatment
Nectin Therapeutics Ltd., an Israeli medtech startup that is developing novel targeted immunotherapies for the treatment of cancer, extended its Series A financing to over $25 million with investments led by IBF and Peregrine Ventures. At the same time, Nectin announced the dosing of the first patient in its Phase 1 clinical trial of NTX1088, Nectin’s first-in-class PVR (CD155) blocker, in cancer patients with locally advanced and metastatic… Read More Here
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BondIT Raises $14 Million for Bond Management Tech
bondIT, an Israeli fintech provider of next-generation investment technology, raised $14 million in a new investment round led by BNY Mellon, with participation by existing investors. As part of the investment, BNY Mellon will join bondIT’s Board of Directors.
Founded in 2015, bondIT provides portfolio construction technology and AI-driven credit analysis for fixed income. bondIT boasts that its scalable technology platform leverages machine learning… Read More Here
Rezonate, Gankster and Axiom All Make Small Raises
Rezonate, Gankster and Axiom are three Israeli startups operating in different fields that have all just made small raises. Rezonate raised $8.7 million in financing led by State of Mind Ventures and Flybridge, for its cloud identity protection platform that the company says prevents access risk and stops attackers’ from breaching cloud infrastructure. Axiom raised $7 million in Seed funding led by S Capital for its Identity and Access Management (IAM) platform for Cloud and SaaS authorization. And Gankster, a new competitive gaming platform, brought in $4.25 million, co-led… Read More Here
RepAir Carbon Offer CO2 Capture Solution
RepAir Carbon is an Israeli startup that offers an inventive way to help deal with the growing problems of climate change. The company offers a new carbon dioxide capture solution. And for its new tech ReapAir Carbon raised $10 million in a Series A round of investment led by climate-first firm Extantia Capital with Equinor Ventures, Shell Ventures, and Zero Carbon Capital also participating.
Let’s face it, the world is getting hotter bad…. Read More Here
CyVers Raises $8 Million for Crypto Security
CyVers, an Israeli cyber security startup that develops proactive Web3 security for smart contract applications via detection and interception of crypto attacks across blockchains, raised $8 million in funding led by Elron Ventures. Smart contracts are defined as programs stored on a blockchain that run when predetermined conditions are met. Web3 is a new form of the World Wide Web intended for better engagement in blockchain technologies, and token-based… Read More Here
Mergers and Acquisitions
Google Maps Merging With Waze
Google parent company Alphabet has announced that it will merge Waze and Google Maps, the company’s two map services. Waze or Google Maps? That has been the great debate for years now. Have you ever found yourself wondering which app to use when you get lost on the road? Well, no more.
Once an independent company, Waze was acquired by Google…. Read More Here
Other Business Stories
Israel Increases Foreign Currency Reserves
The Bank of Israel (BoI) has reported that Israel’s foreign exchange reserves at the end of November 2022 stood at $194,414 million – or $194.414 billion). This constitutes an increase of $5,572 million ($5.572 billion) from their level at the end of the previous month. The level of the reserves relative to GDP was 37.5 percent.
The BoI said that the increase was the result of a revaluation that increased the reserves by approximately $6,754 million… Read More Here
Israel’s Foreign Currency Market In The Third Quarter Of 2022
The Bank of Israel has released the data on Israel’s foreign currency market for Q3 2022.
1. The Exchange Rate… Read More Here
Startup Nation Layoffs Continue: DataRails, Perimeter, Santa and More Cutting Back
In another sign of how the worldwide financial crisis is affecting Israel Startup Nation too, three Israeli firms are laying off people- including the unicorn Perimeter 81 – while a third may be shutting down entirely. It seems that until the ongoing war in Ukraine is ended and the sanctions imposed on Russia that caused uncertainty in the markets and a sharp rise in oil prices can be repealed, all new companies will continue to be in a state of crisis. Even some big names among already established and publicly traded Israeli firms also made cutbacks.
Just in time for Christmas, the aptly named Israeli startup Santa may just be shutting down entirely. Founded in 2020 by CEO Roee Adler… Read More Here
Israel’s NewMed Sign’s Deal to Explore Moroccan Gas
Israel’s NewMed Energy has made yet another breakthrough for Israel and its growing relationship with the Arab world. The company signed a deal to explore offshore natural gas in the territorial waters of the Arab nation of Morocco. Morocco is one of the four Arab nations that entered into a peace agreement with Israel under the Abraham Accords, along with Sudan, Bahrain and the UAE.
Under the new agreement, NewMed will get a 37.5 percent…. Read More Here
Lockheed Martin Teams with Israel’s Rafael on New Laser System
Lockheed Martin, the American titan of defense industries, and Rafael Advanced Defense Systems of Israel, a developer of anti-missile weapons capabilities such as the Iron Dome system, have entered into an agreement for the development, testing and manufacture of High Energy Laser Weapon Systems (HELWS) in the U.S. and Israel. The future joint-development will be based within the framework of the IRON BEAM project. The cooperation will be geared towards developing a variant of the system for the American market as well…. Read More Here
RAFAEL Wins Contract Worth 10’S Of Millions Of USD With Asian NavyLockheed Martin, the American titan of defense industries, and Rafael Advanced Defense Systems of Israel, a developer of anti-missile weapons capabilities such as the Iron Dome system, have entered into an agreement for the development, testing and manufacture of High Energy Laser Weapon Systems (HELWS) in the U.S. and Israel. The future joint-development will be based within the framework of the IRON BEAM project. The cooperation will be geared towards developing a variant of the system for the American market as well as others… Read More Here
