Israel High Tech Scene September 12 – 18

Business

New Startups / VC Funding
Smart Construction Startup Versatile Raises $80 Million
Versatile is an Israeli construction technology startup that uses artificial intelligence (AI) and the internet of things (IoT) to optimize construction processes. Versatile has secured $80 million in Series B funding. Insight Partners led the round, joined by Tiger Global. The investment will support the company’s rapid growth and strengthen its data-driven capabilities. It will also help expand Versatile’s service to insurers and across… Read More Here

Israeli Startup Rezilion Raises $30 Million
Rezilion is an Israeli cybersecurity startup which offers DevSecOps with automation. Rezilion brought in $30 million in Series A funding led by Guggenheim Investments… Read More Here

Satori Raises $20 Million For DataSecOps
Satori is an Israeli cybersecurity startup that boasts that it has created the world’s first DataSecOps platform. Satori raised $20 million in a Series A funding round co-led by B Capital Group and Evolution Equity Partners, with participation from Satori’s Seed investor YL Ventures… Read More Here

Sproutt Raises $26 Million for Insurtech
Sproutt is an Israeli life insurance and insurtech startup. Sprout just raised $26 million in a Series B round of investment led by MoreTech Ventures with investment from Harel Group, The Raptor Group, and Falcon Edge Capital… Read More Here

Startup Neosec Raises $20.7 Million
Neosec is a new Israeli cybersecurity startup that has just revealed itself, coming out of stealth mode. Neosec completed its Series A fundraise with a total investment of $20.7 million from True Ventures, New Era Capital Partners, TLV and SixThirty in addition to security visionaries Mark Anderson, Gary Fish, Mickey Boodaei, Rakesh Loonkar and… Read More Here

IPOs and Unicorns
IAI IPO Delayed For Second Time
Israel Aerospace Industries (IAI) has once again hit a bump on the road to its initial public offering (IPO). Globes has reported that the company will not be able to hold its IPO before the end of 2021. Plans for the IAI IPO have been underway since back in November of 2020… Read More Here

Israeli Fintech Startup Pagaya Seals $9 Billion SPAC Merger
Israeli fintech startup Pagaya has sealed the deal on an SPAC merger ahead of the company’s initial public offering. Pagaya is looking at a $9 billion valuation from its IPO. This is up from the reported $8 billion expectation of just a few weeks ago… Read More Here    

Mergers and Acquisitions
888 Snags British William Hill for $3 Billion
Israeli owned and operated online digital gambling services provider and developer 888 Holdings has acquired the British gambling company William Hill Bookmakers for £2.2 billion, or roughly $3 billion. This marks one of the biggest mergers and acquisitions in sports gambling history… Read More Here

VisibleRisk Is Being Taken Over By BitSight
Moody’s Corporation has invested $250 in the American cybersecurity company BitSight. The funds will be used as part of BitSight’s acquisition of the Israeli startup VisibleRisk, a cyber risk ratings joint venture created by Moody’s and venture group Team8. The purchase price has not yet been disclosed … Read More Here

ZOLL Medical Buys Itamar Medical For $538 Million
Israeli medtech company Itamar Medical has been sold to ZOLL Medical, an Asahi Kasei company that manufactures medical devices and related software solutions, for $538 million. The deal is subject to final approval by Itamar’s shareholders … Read More Here

Kape Buys ExpressVPN for $936 Million
Kape Technologies PLC, an Israeli cybersecurity firm that offers privacy and security solutions, has acquired ExpressVPN, a virtual private network provider, for $936 million. VPNs are directly related to the type of cybersecurity that Kape Technologies specializes in… Read More Here

Other Business Stories
Elbit Systems Develops AI Powered Assault Rifle
Israel’s Elbit Systems has unveiled its new assault rifle which is powered by artificial intelligence (AI). It is called ARCAS AI-powered assault rifle. Concurrently, Elbit Systems was awarded $56 million in contracts to supply underwater warfare capabilities to an unspecified Asian-Pacific navy… Read More Here

Teva Must Face Kickback Charges in U.S. Court
Teva Pharmaceutical Industries Ltd. must face charges filed against it over the illegal transfer of ill-gotten royalties to charitable organizations. Massachusetts District Court Judge Nathaniel Gorton overruled Teva’s motion to have the case dismissed, rejecting the company’s claim that since it did not control how the donations were dispersed then it was not in violation of U.S. Federal laws… Read More Here

India Launches IAI Missile Defense System
The Indian Air Force (IAF) has inaugurated its new MSRAM missile defense system which was developed by Israel Aerospace Industries (IAI). MSRAM is used by the Indian Air Force, India Army, Indian Navy and Israeli Defense Forces… Read More Here

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