Israel High Tech Scene July 30 – August 5

Tel Aviv

Tel Aviv at sunset, Israel Startup Israel

New Startups / VC Funding
Talon Cyber Security Breaks Trend, Bring In $100 Million In Funding
Israeli startup Talon Cyber Security develops cloud infrastructure-based cyber security technology. The company just raised $100 million in a Series A round of funding led by Evolution Equity Partners.

In April of 2021, Talon Cyber Security raised $26 million in seed funding… Read More Here

Gates Foundation Joins $22 Million Investment In Eleven Therapeutics
Eleven Therapeutics, an Israeli medtech and biotechnology startup that uses AI in nucleic acid therapeutics raised a total of $22 million in seed funding. Investors included the Bill & Melinda Gates Foundation, which committed $9 million in funding to Eleven, including $5 million towards future equity investment supporting the development of a first-of-its-kind platform that designs small interfering RNAs (siRNAs) with ultra-long durability by utilizing high throughput combinatorial chemistry and AI.

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According to the University of Massachusetts Medical School, RNA is used to find and regulate specific genes. It’s known as… Read More Here

GreenOnyx Foodtech Startup Hits $80 Million Valuation
GreenOnyx, an Israeli foodtech startup, raised $18 million from private entities. Even before the raise the company reputedly had an $80 million valuation. According to a report in Calcalist, 12 million was already received by the company and another $6 million will be transferred soon. And there are also negotiations going on to raise an additional $5 million, so the fundraising round could increase to $23 million.

Startups working on new food products are not just all about meat and dairy alternatives, or ways to produce food from just a few copied cells and a 3D printer. There are also companies developing new ways to enhance the taste, smell and colors of all sorts of foods. And this new tech can be incorporated into meat and dairy alternative products… Read More Here

Mergers and Acquisitions
Top 10 Israel Startup Nation Mergers & Acquisitions Stories For July 2022
It was a wild ride in July for Israel Startup Nation. As many of its firms were forced to make layoffs, others continued with business as usual. This included many mergers and acquisitions made by and for big name businesses like ironSource, IBM, Walmart and Nano Dimension.

In some cases, the sales marked successful exits. But not always… Read More Here

Teddy Sagi Sells Arbitrip To Talma Shlomo
Teddy Sagi, the billionaire Israeli entrepreneur, is selling his majority stake in Israeli travel startup Airbitrip to fellow Israeli firm Talma Shlomo. Sagi is unloading his 51% stake in the business which will reportedly leave Airbitrip with a $40 million valuation.

In 2018, Tedi Sagi acquired a 50% stake in Airbtrip for $4 million… Read More Here

Nexar Buys Portuguese Company Veniam
Nexar, an Israeli company that develops smart car dash-cam tech, has acquired the Portuguese-American company Veniam, which develops WiFi mesh networks for cars. The terms of the acquisition were not disclosed, but Nexar is reportedly getting Veniam at a discount due to the current devaluation of firms caused by the ongoing market crises.

Last November Nexar raised $53 million in a series D financing round.

A wireless mesh network (WMN) is defined as a communications network… Read More Here

Other Business Stories
Innoviz Signs $4 Billion Volkswagen Deal
Innoviz Technologies, an Israeli firm that offers high-performance, solid-state LiDAR sensors and perception software, revealed finally that the company with which it entered into a $4 billion agreement is Volkswagen. Specifically, the deal is to provide Lidar technology to CARIAD, an automotive software company owned by Volkswagen.

CARIAD selected the InnovizTwo next-generation LiDAR sensor and perception software. This is Innoviz’s third design win with a…. Read More Here

In Spite Of Recent Contractions – Fitch Affirms Israel At ‘A+’ Rating
Fitch Ratings has affirmed Israel’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘A+’ with a Stable Outlook. This is great news for Israel Startup Nation which has seen hundreds of jobs lost in its high-tech sector recently.

But then again, markets are dropping all over the world due to a number of factors, such as the continuing Russian war in Ukraine. This resulted in Western sanctions on Russia and disruptions of supply chains. The sanctions targeted…. Read More Here

Israel Exonerates Police In NSO Group Pegasus Spyware Phone Hacking Scandal
Israel police did not illegally use the Pegasus spyware made by cyber security firm NSO Group. An investigating commission from the Israel Justice Ministry found that the country’s police did not hack people’s phones without a proper warrant as had been charged, but that they did, in some cases, exceed the authority granted them by courts to collect information.

This may put to rest an 8 month long scandal that erupted in January, when a report in Calcalist revealed that the Israel Police had hacked…. Read More Here

Private Beach For Sale In Givat Olga, Israel
Israel has a limited supply of bathing beaches for public use and even less for waterfront property.

The limited supply is set to get increasingly less with Asia Hadera Israel Group having published a call for bids on the purchase of 18.500 square meters (18.5 Dunam) of rights in a plot of approximately 18.5 dunams located on the waterfront, on the beach of Givat Olga neighborhood in Hadera…. Read More Here

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