Israel High Tech Scene May 14 – 12

startup nation

Tel Aviv at sunset, Israel

New Startups / VC Funding
Buildots Brings In More Than $100 Million For Construction Tech
Buildots, an Israeli startup that uses AI and computer vision to modernize construction management, raised $60 million in a Series C round mutually led by Viola Growth and Eyal Ofer’s O.G. Tech. The funding comes less than a year after the company brought in $30 million in a Series B funding round. To date, Buildots has now brought in $106 in total investments … Read More Here

Masterschool Raises $100 Million For Tech Career-Training Schools
Israeli company Masterschool, a network of tech career-training schools, has raised a $100 million seed fundraising round to provide the life-changing opportunities that come with a tech career to an ever-widening group of people.

With 1 million available IT positions in the United States alone, the IT talent shortage is one of the greatest difficulties confronting businesses today, and it is anticipated to reach 85 million unfilled positions globally by the end of the decade. 57% of IT CEOs cited the labor shortage as their … Read More Here

Kissterra Raises $76 Million For Insurtech
Kissterra, an Israeli insurtech startup, raised $10 million from Poalim Equity, the investment arm of Bank Hapoalim. The raise comes less than a year after the company brought in $66 million from Menora Mivtachim. Kissterra has now raised $76 million to date.

Founded in 2015 by company president Iftach Kerzner and CEO Segev Shilton, Kissterra develops new tech the company boasts can aid insurance companies to become more profitable through better digital marketing of policies …Read More Here

A.Team Raises $55 Million To Help You Build Your Team
A.Team, an Israeli startup that helps other companies with their hiring and the building of new teams, raised $55 million in a Series A financing round co-led by Tiger Global Management, Insight Partners, and Spruce Capital Partners. The company has now raised $60 million to date.

It’s not easy building a new team from scratch. No matter what field of work you are in the issues are always the same. Where do you find the right people, how do you know the person will be a good fit and how do you know that these people will be able to work well together as a team? … Read More Here

IPOs and Unicorns
Optibus Becomes Unicorn After Raising $100 Million At $1.3 Billion Valuation
Israeli startup Optibus, a developer of an end-to-end software platform for public transportation planning and operations, has raised $100 million in Series D fundraising at a valuation of $1.3 billion.

Optibase has raised $260 million to date, making it the first unicorn in the public transportation industry …. Read More Here

Unit Finance Is Latest Israeli Unicorn At $1.2 Billion Valuation
Unit Finance, an Israeli fintech startup that helps tech companies build financial features into their products, is Israel Startup Nation’s latest unicorn. The company acquired that coveted status when it hit a $1.2 billion valuation with a $100 million Series C Raise led by Jeff Horing of Insight Partners.

There are so many Israeli unicorns now – a startup with a $1 billion plus valuation – that this status is no longer really that prestigious any more .… Read More Here

Actelis Networks’ NASDAQ IPO Is A Bust
The Actelis Networks initial public offering (IPO) is officially a bust. At the end of the company’s first day of public trading on the NASDAQ its share prices fell by 50% from the IPO price, ending the day at $2 per share, for a market cap of just $34.7 million, way down from the anticipated $70 million valuation.

So not every company coming out of Israel Startup Nation is a success story. We have gotten so used to all of the multi-billion IPOS and unicorns coming out of Israel lately that it is hard to understand that sometimes there are failures too … Read More Here

Other Business Stories
S&P Affirms Israel’s AA- Rating – Geopolitics Be Damned
Standard and Poors (S&P), one of the world’s top credit rating agencies has decided to preserve Israel’s already high credit rating at AA-. The firm cited a number of reasons for its decision.

The announcement comes just as Israel is seeing its highest rate of inflation in years, in a country where people already suffer from a relatively high cost of living. But, at the same time, Israel is also …Read More Here

Shai Agassi Is Back In Car Business
Shai Agassi is back in the automobile business. He is probably best known for having been the man behind Israel’s very own electric car company Better Place. It was hoped that the company would give Israel its very own Tesla. But, unfortunately, it was not to be and Better Place declared bankruptcy in 2013.

Getting an early start, Shai Aggassi founded TopTier Software (originally called Quicksoft Development) in Israel in 1992 when he was … Read More Here

Avo Grocery Delivery Startup Shutting Down
Avo, an Israeli startup that offers a service for delivering groceries, is in danger of closing down its business entirely. The company was just forced to shut down all of its Israel operations, in a move taken on Tuesday that came as a surprise to its local workforce.

Earlier this month Avo was forced to lay off 500 workers, two thirds of its total, 350 of whom are located in Israel. The company points to … Read More Here