Israel High Tech Scene April 9 – April 15

Business

New Startups / VC Funding

BloXroute Raises $70 Million For Blockchain
bloXroute, an Israeli startup that developed a blockchain distribution network (BDN) that helps DeFi traders on Ethereum, Polygon, and BSC, has completed a $70 million Series B funding, led by SoftBank Vision Fund 2.

According to Investopedia, Decentralized finance (DeFi) is defined as an emerging financial technology based on secure distributed ledgers similar to those used by cryptocurrencies. The system removes the control banks and institutions have… Read More Here

Silverfort Raises $65 Million For Identity Theft Protection
Silverfort, an Israeli cyber security startup that provides a Unified Identity Threat Protection platform, has closed $65m in Series C funding led by Greenfield Partners.

Israel Startup Nation is best known for its cyber security firms, so Silverfort is in good company. This is in part because of the country’s security needs and the Israel Defense Forces’ special cyber security units. It also has to do with all of the brainpower that Israel Startup Nation is famous for having… Read More Here

RiseUp Raises $30 Million For Fintech
RiseUp, an Israeli fintech startup that offers a new financial platform, has raised $30 million in a Series B funding round led by Corner Ventures alongside Aleph (Michael Eisenberg), Latitude (Saul Klein), Sir Ronald Cohen, and Jeff Schwartz. The latest round of funding brings the total investment in RiseUp to date to $50 million.

Fintech firms are big these days. They come in second only behind cyber security startups and Startup Nation is filled with both. So RiseUp is in good…. Read More Here

IPOs and Unicorns
Israeli Fintech Startup Pagaya To Go Public At $8.5 Billion Valuation
Pagaya Technologies, an Israeli fintech startup, revealed that its sales for 2021 will reach $475 million, beating its prediction by 17%. Additionally, Pagaya said that it has filed a Form F-4 Registration Statement with the Securities and Exchange Commission of the United States in anticipation of the completion of its merger with SPAC (special-purpose acquisition company) EJF Acquisition Corp.

Pagaya is planning to list on the New York Stock Exchange in the second quarter of 2022, with a market capitalization of $8.5 billion…Read More Here

Mergers and Acquisitions
OpenWeb Continues Buying Spree, Adds ADYOULIKE For $100 Million
OpenWeb, an Israeli startup that develops an audience relationship platform, has acquired ADYOULIKE which offers a global advertising platform for $100 million in cash and stock.

Founded in 2011, ADYOULIKE is a Franco-British global native advertising company headquartered in France with offices in Paris, London, New York, Montpellier and Milan. The company boasts… Read More Here

Zedge Acquires Israel’s GuruShots For $35 Million
GuruShots, an Israeli startup that fuses photography with mobile gaming, has been acquired by Zedge, Inc, a global app publisher that served 44 million users across the portfolio in January 2022.

Founded in 2014, GuruShots offers daily photo challenges that place your photos against others taken by people from all over the world. Users can work…. Read More Here

Other Business Stories
Israeli Defense Exports Set New Record In 2021 – Hit $11.3 Billion
In 2021, Israel set a new record high for the value of total exports of defense technologies and products for a single year hitting a total of $11.3 billion in sales. The number of new agreements signed by Israeli for defense deals increased by more than 30% compared to 2020.

And the rate of export agreements between countries signed by the Ministry of… Read More Here

FDA Approves Israeli Startup’s AI-Enabled Stethoscope
Sounds that people cannot hear: The world’s first stethoscope capable of listening to infrasound – acoustic wavelengths that humans cannot hear, has received FDA granted 510(k) clearance for clinical use.

Sanolla, an Israeli startup that develops the AI-powered primary care diagnostic tools, said that FDA approval comes on the heels of the Israeli Health Ministry’s recent regulatory approval… Read More Here

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