Israel High Tech Scene Week In Review Apr 18 – 24
Tel Aviv at sunset, Israel
New Startups / VC Funding
Israeli Startup Minute Media Offers Digital Content Solutions
It just made a deal with WynnBET. Minute Media is an Israeli media and technology startup focused on platform and content. Minute Media’s platform serves as the company’s foundation, powering its content as well as enabling the evolution of other market-leading digital media brands. Minute Media just formed a partnership with WynnBET, the casino and sports betting app created by Steve Wynn’s Wynn Resorts.
Israeli Startup Affogata Offers A Customer Intelligence Platform
The company just raised $5.5 million in seed money. Affogata is a new Israeli startup which offers businesses a customer intelligence platform. The company just completed a $5.5 million seed financing round co-led by Mangrove Capital Partners and PICO Venture Partners. Wix Capital and Fiverr Founder and CEO, Micha Kaufman, also participated in the funding round.
Jstay: The Jewish Travel App
It was founded by Sholli Kestecher, the JBN entrepreneur of the month. Jstay wants to be the Jewish AirBNB. Founded in October 2019, it is the brainchild of British immigrant to Israel Sholli Kestecher. The new service offers a free app for Jewish travelers to find the right place to stay. It differs from AirBNB in that Jstay is geared for people who need specifically Jewish services when they travel such as kosher food and local Jewish communities and synagogues for Sabbath observers.
Jeff Weiner, Executive Chairman Of LinkedIn Funds Israeli Startup Loris.AI
Loris has developed a system that helps customer service agents provide an adequate response instead of bots that may estrange customers. Jeff Weiner, executive chairman of LinkedIn, funds the startup company Loris.AI as part of a $5.1 million seed round led by the US arm of Vertex Ventures.
Israeli Strartup Montfort Transforms Mental Health Into An Exact Science
Montfort (Mon4T) help diagnose and treat psychiatric disorders, such as schizophrenia. Montfort (Mon4T), an innovative medical startup specializing in neurological disorders, announces a new platform to help diagnose and treat psychiatric disorders, such as schizophrenia.
Israeli Startup Perception Point Offers E Mail And Cybersecurity Services
The company just raised $28 million. Perception Point is an Israeli email and collaboration cybersecurity company which offers fast interception of content-based attacks as a service. The company has raised $28 million in s Series B, bringing its total funding to $48 million. The new funding round was led by Red Dot Capital.
Deep Instinct Offers An Artificial Brain For Cybersecurity
The company just raised $100 million.Israeli cybersecurity startup Deep Instinct offers anew kind of self learning artificial intelligence based cybersecurity solution. The company raised $100 million in Series D funding. The Deep Instinct platform can predict, prevent, and analyze cyberattacks at any touchpoint of the organization from the endpoint through to the network.
IPOs and Unicorns
Israeli Payroll Startup Co Deel Hits $1.25 Billion Valuation
That’s the tenth unicorn for Startup Nation this year. Deel, an Israeli startup which deals with payroll solutions for firms with international staffs, has just become a unicorn. The company hit a $1.25 billion valuation by bringing in $156 million in a Series C round of financing.
Israeli Content Recommendation Co Outbrain Set For IPO
Outbrain goes public after almost merging with Taboola. Outbrain Inc., an Israeli startup which offers content recommendation to businesses, announced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”) relating to the proposed initial public offering of its common stock.
Fintech Startup Credit24 Looking To TASE IPO
The company currently operates in the Baltic region and Australia
Credit24 is an Israeli fintech startup based which offers people small loans. It currently operates in five countries including Estonia, Finland, Latvia. Lithuania and Australia. According to a report in Calcalist, the company is planning for an initial public offering on the Teal Aviv Stock Exchange TASE in which it expects to raise NIS 40-50 million ($12-$15 million). It plans to issue shares at a valuation of NIS 160 million ($49 million).
Israel’s Similarweb Looking At $2 Billion IPO
Yet another multi-billion exit for Startup Nation. Similarweb Ltd., an Israeli provider of digital intelligence solutions has publicly filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (“SEC”) relating to a proposed initial public offering of its ordinary shares.
Other Business Stories
Elbit Systems Signs $1.65 Billion Deal With Greek Air Force
This marks the official consummation of an agreement made back in January. Israeli defense contractor Elbit Systems Ltd. has officially been awarded a contract valued at approximately $1.65 billion (approximately €1.375 billion) for the establishment and operation of the International Flight Training Center of the Hellenic Air Force – The Greek Air force.
Dror Efrat Sells Investing.Com To Asian Fund
The deal could be worth as much as $500 million. Israel’s Investing.com has been sold. According to Israeli business daily Globes, the website’s owner Dror Efrat has sold out to an unspecified Asian fund. The purchase price was not disclosed.
Microsoft To Open New Israel Data Center In Early 2022
The company will spend more than $1 billion in Israel. Microsoft has announced that its new Israeli data center will open in 2022. The center is currently under construction in the town of Modiin which is located about halfway between Jerusalem and Tel Aviv.
Taboola Beats Q1 Expectations Ahead Of Planned IPO
It brought in more than $300 million. Taboola, the Israeli web content recommendation company, had a better than expected first quarter for 2021. Taboola reported revenues of $300 million to $303 million, versus the prior projection of just $286 million. Hopefully this is a sign that the world is headed out of the Coronavirus recession.
Nano Dimension Acquires Israeli Machine Learning Co DeepCube For $70 Million
Nano Dimension produces 3D printing tech. Nano Dimension, an Israeli company in the 3D printed electronics (Additively Manufactured Electronics (AME)/PE) field, has bought out fellow Israeli company DeepCube Ltd. The Machine Learning/Deep Learning (ML/DL) technology was acquired for $70 million; Nano Dimension will pay the shareholders of DeepCube approximately $40 million in cash and $30 million in American Depositary Shares (ADSs) of Nano Dimension
Nano Dimension, an Israeli company in the 3D printed electronics (Additively Manufactured Electronics (AME)/PE) field, has bought out fellow Israeli company DeepCube Ltd.
Read more about: Affogata, DeepCube, Jstay, Minute Media, taboola
