Israel High Tech Scene April 16 – April 29

Business
startup nation

Tel Aviv at sunset, Israel

New Startups / VC Funding
FundGuard Raises $40 Million For Investment Management
FundGuard, an Israeli fintech startup that offers an AI-powered SaaS investment management and asset servicing enterprise platform, closed a $40 million Series B funding round from investors that included Citi and State Street Corp.

Fintech is one of the hottest sectors of Israel Startup Nation, along with cyber security startups. Fintech applies to anything having to do with money, banking, investments and so forth and Israel is awash … Read More Here

Tel Aviv Pilots Solar-Powered Material That Provides Shade And Glows At Night
The municipality of Tel Aviv-Jaffo, the city which experiences an extreme summer climate, has started a pilot with Israeli startup Lumiweave, the developer of a revolutionary clean energy system in the shape of an umbrella, that provides shade during the day and lighting after sunset.

The pilot area in Park Atidim, Ramat Hahayal, is home to dozens of high-tech, financial, media, and medical companies … Read More Here

Riverside.Fm Raises $35 Million For Remote Recording
Riverside.fm, an Israeli startup that offers a platform for remote recording, raised $35 million in a Series B financing round led by Oren Zeev. Zeev is an investor who has backed companies like Houzz, Audible, Chegg, TripActions, Tipalti, Next Insurance, Sunbit, Homelight, Domestika, Uber Freight, FireBolt, Veev and others. He is usually the main early investor and an active board member.

This latest round of funding brings the total investment in Riverside.fm to $47 million to date …. Read More Here

Israeli Startup Fairtility Improves Success Rates For In Vitro Fertilization
Israeli startup Fairtility, the Artificial Intelligence (AI) powering in vitro fertilization (IVF) aims to improve increased precision in embryo quality and enhanced IVF success rates.

Today, the IVF success rate is less than 30% per cycle. Assessment of embryo morphology under a microscope revealed a low predictive value for implantation, necessitating the selection of multiple potential embryos for transfer in order to obtain decent pregnancy rates …Read More Here

Volvo Invests In Israeli 5-Minute Charging Tech For Electric Vehicles
Volvo Cars, the carmaker’s venture capital arm, has made a strategic investment in StoreDot, the Israeli startup which has developed 5-minute charging technology for electric vehicles.

StoreDot to begin mass production of its ‘100in5’, silicon dominant lithium-ion cells delivering 100 miles of range in five minutes of charging by 2024… Read More Here

Israeli App Detects Biomarkers Of 600 Illnesses On Apple Watch – For Free
Apple Watch users can now download an Israeli app that analyses urine to detect chemicals and biomarkers in urine that are associated with over 600 illnesses. Individuals may use Olive WatchOS for free.

The technology developed by Olive Diagnostics is an AI-based real-time urine analysis device that mounts to any toilet and offers the world’s first optical equipment in the privacy at home or clinic… Read More Here

Mergers and Acquisitions
AU10TIX Looking To Sell For More Than $1 Billion
AU10TIX, an Israeli automated identity verification startup, could be sold at a company valuation of as much as $1.2 billion. According to a report in Calcalist, the brothers Ron and Gil Atzmon, who hold a 70% stake in the company, are currently entertaining offers to sell out their shares.

Calcalist reported that AU10TIX has hired the services of Goldman Sachs and Deutsche Bank to lead the sale process. The brothers could make between $300-750 million from the sale, depending on how much of their stake they eventually sell… Read More Here

Other Business Stories
Mapping The Israeli Cloud Landscape
In what may be viewed as an inflection point in modern technological history, cloud computing stands as one of the most impactful innovations of our time. With billions of dollars already invested in this space, Israeli cloud technology shows no signs of cooling off as investor appetite remains strong and promising startups are continuously emerging from stealth. Today, with the on-demand delivery of shared computing resources via the internet, or “the cloud”, organizations can store and access their data on remote servers that are fully …Read More Here

For The First Time, Israel’s Central Bank Added Yuan To Its Reserve Holdings
According to Bloomberg, for the first time ever the Bank of Israel has decided to add holdings of the Chinese yuan.

In the most significant change to its reserve allocation in over a decade, the bank will decrease its holdings of dollars, euros, and the British pound. Israel’s central bank is looking to diversify its currency mix and extend its investment horizon, indicating an “overall investing standards and mindset,” as Deputy Governor Andrew Abir put it… Read More Here

Check Point Revenue Up In Q1 2022
Israel’s Check Point Software, the cyber security company that was the first and most renowned success to come out of Startup Nation, had a better than expected first quarter in 2022 with rising stock value. This is in sharp contrast to the markets overall.

Check Point Software reported quarterly earnings for Q1 2022 of $1.57 per share, compared to earnings of $1.54 per share a year ago… Read More Here

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