Israel High Tech Scene July 16 – 22

Tel Aviv

Tel Aviv at sunset, Israel Startup Israel

New Startups / VC Funding
Deci Raises $55 Million For Deep Learning Development
Deci, an Israeli startup that offers an artificial intelligence AI deep learning platform that it says harnesses AI to solve the AI efficiency gap, raised $25 million in a Series B funding round led by global software investor Insight Partners. Deci’s total funding to date has now reached $55.1 million.

Deep learning is also known as deep structured learning. It is part of a larger group of machine learning methods that are based on artificial… Read More Here

Israel’s ForSight Robotics Raises $55 Million
Israeli medtech startup ForSight Robotics is developing a surgical robotic platform to deliver what it describes as high precision and cost-effective vision-saving surgery. Forsight just raised $55 million in a Series A round of funding led by The Adani Group alongside existing investors Eclipse Ventures and Mithril Capital.

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Forsight Raised $10 million in seed funding in March 2021.

Founded in 2020 CEO Daniel Glozman, Ph.D., Joseph Nathan, M.D. and… Read More Here

Quantum Machines Selected For $30 Million Quantum Computing Center
Quantum Machines, an Israeli startup that created the Quantum Orchestration Platform, was selected by the Israel Innovation Authority (IIA) to lead the establishment of the Israel Quantum Computing Center. The new deal is worth NIS 100 million, about $29 million.

The center is part of the Israel National Quantum Initiative (INQI) and will host Israel’s first fully functioning quantum computer that is available to the commercial and research communities… Read More Here

UnCaged Raises $24 Million For Web3 Games
UnCaged Studios, an Israeli startup founded by Playtika veterans that develops Web3 games, raised $24 million in a Serie A round of funding from investors like Griffin Gaming Partners, Vgames, Maverick Ventures Israel and Drive by DraftKings. UnCaged is best known for the first AAA Solana game MonkeyLeague. The company came out of stealth mode just 9 months ago when UnCaged made its initial token sale totaling $ 4 million.

According to Upptic, Web3 games (sometimes called play-to-earn, play-to-own, crypto, blockchain or NFT games) are digital games… Read More Here

Mergers and Acquisitions
Nano Dimension Acquires 12% Of Stratasys In Possible Takeover Move
Nano Dimension, an Israeli company in the 3D printed electronics (Additively Manufactured Electronics (AME)/PE) field, has bought up a 12% share in the American-Israeli manufacturer of 3D printers Stratasys, which is publicly traded on the NASDAQ. The shares are reportedly worth about $150 million.

In the last week, Nano Dimension bought out Dutch 3D printing company Formatec for $12.9 million. The company has 2 subsidiaries, Admatec Europe B.V. and Formatec Technical Ceramics B.V. Admatec/Formatec… Read More Here

Berkshire Partners Paying $215 Million For 49% Of Livnat Family’s Israeli Data Center Platform MedOne
MedOne, a veteran Israel server farm operator owned by brothers Zeev, Zvi and Shay Livnat, is selling a 49% stake in the company to Berkshire Partners for $215 million. This gives the company a $430 million valuation.

A server farm or server cluster is what makes the internet work. It is where all of that online information is stored. And more and more both companies and people are using server cloud services either for online programs like… Read More Here

Other Business Stories
Lusha Latest Israeli Unicorn To Announce Layoffs
Lusha, the crowdsourced data community for B2B sales and marketing professionals, is now the latest in a string of Israeli unicorns – startups worth more than $1 billion – to be forced to lay off a large number of its workforce. The company is said to be planning a 10% cut across all divisions. And that is not all. Just a few days earlier fellow Israeli unicorn the retail technology startup Fabric also announced that it needs to let go of more than one third of its staff.

Also in July, Israeli unicorns Lightricks and Next Insurance were also forced to make layoffs. As this trend continues some of these companies will clearly need to lower their valuations, thereby ceasing to be unicorns…. Read More Here

Zencity Firing 20% Of Employees
Zencity, an Israeli startup that offers a community insights and analytics platform for state and local governments, is the latest Startup Nation to be forced to make cutbacks. The company has laid off off 20% of its workforce, or 30 people.

A number of Startup Nation firms has been forced to make cutback recently. The Zencity announcement comes after two Israeli unicorns were also forced to fire people so far in the month of July, Lightricks and Next Insurance. This trend is largely attributed to the current global inflation crisis and the steps being taken to curb it. The U.S. and Israel have both raised interest…. Read More Here

Vimeo Video Service Cuts 6% Of Workforce Including In Israel
Vimeo, one of the world’s leading video streaming services that competes head to head with YouTube, is having financial issues just like many other businesses these days, As a result, the company is laying off about 70 people – 6% of its workforce – including as many as 10 workers located in Israel.

The Vimeo Israel team handles research and development and it is comprised of people who worked for the Israeli startup Wibbitz that Vimeo acquired for $100 million…. Read More Here