Tel Aviv at sunset, Israel Startup Israel
Israel High Tech Scene June 24 – June 30
New Startups / VC Funding
Israeli Cybersecurity Startup Cyera Hits $500 Million Valuation
Cyera, an Israeli startup offering cloud data security, just hit a $500 million valuation, estimates Calcalist. This valuation came after the company raised $100 million in a Series B round of investment led by Accel with participation from existing investors Sequoia and Cyberstarts. Th raise brought the total investment in Cyera to $160 million.
This is a huge leap forward for Cyera, which only came out… Read More Here
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NoTraffic Raises $75.7 Million to Fight Traffic Jams
NoTraffic is an Israeli startup developing traffic congestion solutions. The company completed a $45 million Series B funding round led by M&G Investments with participation from VNV Global and UMC Capital. The firm offers a “real-time, plug-and-play autonomous traffic management” platform that uses AI. NoTraffic states that the platform is reinventing how cities run their transport networks.
This latest round of funding brings… Read More Here
ANZU Raises $65 Million for In-Game Advertising Solutions
ANZU, an Israeli startup that offers in-game advertising solutions for the gaming industry, raised $48 million in a Series B funding round led by Emmis Corporation, one of America’s most respected media, sports, and entertainment companies, with additional investments from PayPal Ventures among others. The company has now raised a total of $65 million to date.
In-game advertising is a rapidly growing... Read More Here
Astrix Security Raises $40 Million for Cybersecurity
Astrix Security, an Israeli cybersecurity startup that offers the world’s first app-integration access management solution, raised $25 million in a Series A round of funding led by CRV with participation from existing investors Bessemer Venture Partners and F2 Venture Capital. This new investment brings Astrix’s total funding to almost $40 million to date.
In February 2022, Astrix Security raised $15 million in… Read More Here
Ramon.Space Raises $26 Million for Space Computing Infrastructure
Israeli startup Ramon.Space offers space computing solutions. The company raised $26 million in funding from Ingrasys, a subsidiary of Foxconn Technology Group and the world’s largest manufacturer of server and storage platforms, and the Strategic Development Fund (SDF), an Abu Dhabi-based strategic investment firm, with additional participation from existing investors… Read More Here
Israeli Startups Loora and Memphis.Dev Make Small Raises
Memphis.dev, an Israeli startup that offers event streaming services, raised $5.58 million in Seed funding co-led by Angular Ventures and boldstart ventures. At the same time, the company introduced its new Memphis Cloudo to enable a “full serverless experience” for massive scale event streaming and processing. Meanwhile, Loora, an Israeli startup offering generative AI English language learning, raised $9.25 million in seed funding from Emerge, with participation from Two Lanterns Venture Partners and Kaedan Capital…. Read More Here
Israeli Company WeSpace Develops Drone to Drive on The Moon
WeSpace Technologies, an Israeli space exploration startup, is developing Autonomously Flying Robotic Systems, also known as thruster-propelled drones or hoppers, for a variety of lunar surface exploration missions. For the first time, says the firm, accessibility to the underworld of the Moon, i.e. lava tubes and Permanently Shadowed Regions (PSRs) will be possible.
And the Moon has an abundance of precious natural resources… Read More Here
Wenrix Raises $23 Million for Airfare Price Prediction Tech
Wenrix, an Israeli startup that specializes in flight ticket price prediction, raised $15 million in a Series B funding round led by Insight Partners. The company has now raised a total of $23 million to date.
Founded in 2017, Wenrix uses AI technology… Read More Here
Joonko CEO Ilit Raz Ousted, Accused of Fraud
Ilit Raz, the CEO and founder of Joonko, an Israeli startup that offers a human resources service that aids firms in reaching their diversity recruiting quotas, was forced to leave the firm under a cloud of fraud allegations. A number of other executives are also out at the company over what the Joonko board alleges was “egregious, unethical and fraudulent conduct” that it maintains “caused harm to the company and its shareholders.” The company is now in danger of closure… Read More Here
Israel’s Astroscale Has Tech for ‘Cleaning’ Space Debris
Astroscale, an Israeli startup that boasts it is the first private company with a vision for the safe and sustainable development of space for the benefit of future generations, and the only company solely dedicated to on-orbit servicing across all orbits, has revealed its ELSA-M spacecraft. The company says the craft will be capable of deorbiting multiple satellites per mission – This is how they plan to clean the space closest to earth that’s full of dangerous debris… Read More Here
IPOs and Unicorns
IL Makiage Parent Co Oddity Tech Looks to NASDAQ IPO
Oddity Tech, the parent company of Israel’s make-up firm IL Makiage, is looking to hold an IPO. Oddity has applied to list its Class A ordinary shares on the NASDAQ Global Select Market under the ticker symbol “ODD.” The number of shares to be offered and the price range for the proposed offering have not yet been determined. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
A little over two… Read More Here
Other Business Stories
Pagaya Continues Its Poor Performance While Payoneer Makes Cutbacks
Payoneer Inc., an Israeli fintech firm that offers a global payment and commerce-enabling platform, is letting go of about 200 employees or 10% of its total workforce. At the same time, fellow Israeli fintech firm Pagaya in May saw its worst monthly loss in the company’s history.
Calcalist reported that Pagaya’s Opportunity Fund had a 4.9% negative return that month. At its peak, this fund, which… Read More Here
Israel’s Xtag Cuts Deal with Zoom
Xtag, an Israeli firm that offers event management and onsite registration solutions, entered a strategic partnership with Zoom Events, a platform for virtual and hybrid events, aimed at delivering holistic event solutions that cover the entire Hybrid and In-Person event lifecycle.
Everybody knows about Zoom now. People the world over… Read More Here
State of the High-Tech Industry in Israel 2023 Is Strong
The Israel Innovation Authority released its “State of the High-Tech Industry in Israel 2023” report which was presented to Israel’s Minister of Innovation, Science, and Technology Ofir Akunis. While the report had some disconcerting news about what happened in Israel’s high-tech sector in 2022, it provided a bright picture for the near future. In this way, the report echoed similar sentiments made by rating agencies such as Standard and Poor’s and Moody’s.
“High-tech has become critical for the… Read More Here
Selina Laying Off 350, Closing Properties
Israeli hospitality company Selina has revealed both good and bad news. On the bright side, the firm has secured agreements for a strategic investment totaling up to $50 million led by an affiliate of Global University Systems. But at the same time, the company is laying off 350 people and closing five of its hospitality properties.
Selina is making the cuts after seeing its market cap… Read More Here
