Israel High Tech Scene Week in Review August 29 – September 4

Business

Tel Aviv at sunset, Israel Startup Israel

New Startups / VC Funding
Israeli Driving Tech Company Foretellix Raises $32 Million
Israeli Driving Tec Israeli startup Foretellix, which offers a platform for automating the testing, verification and validation for automated driving systems (ADAS and AV), raised $32 million in a series B funding round led by MoreTech Ventures, with participation from severalh Company Foretellix Raises $32 Million… Read More Here

Israeli Driving Fieldin Agtech Startup Raises $30 Million
Israeli agtech startup Fieldin has raised $30 million in a Series B funding round, led by Fortissimo Capital, with the participation of Zeev Ventures, Icon Ventures, Luxembourg-based Maor Investments, and Akkadian ventures. Fieldin has raised a total of $50 million to date… Read More Here

Israeli startup Walnut Raises $15 Million
Walnut, an Israeli fintech startup, raised $15 million in a Series A round of funding led by Eight Roads Ventures, a global VC managing $8 billion of assets, with portfolio companies such as AppsFlyer, Alibaba, Hibob and Made.com. The round brings Walnut’s total funding to date to $21 million… Read More Here

IPOs and Unicorns
Israel’s Cellebrite Digital Intelligence Firm Holding $2.4 Billion NASDAQ IPO Tuesday
Israeli startup Cellebrite, a digital intelligence solutions provider, is set to hold its NASDAQ IPO today, Tuesday. The company will be listed soon be listed as CLBT and expects to come away with a $2.4 Billion. The IPO comes four months after Cellebrite merged with the SPAC TWC Tech Holdings. That transaction received final approval during a special meeting of… Read More Here

Melio Triples Valuation to $4 Billion
The Israeli fintech company Melio has just tripled its valuation and is now worth $4 billion. Website The Information revealed that Joshua Kushner’s Thrive Capital made a new investment in Melio that gave the company its new valuation. No word yet on the details of the… Read More Here

InterCure, Ehud Barak’s cannabis company begins trading on Nasdaq
InterCure, an Israeli medicinal cannabis company, began trading on Nasdaq today following the completion of its merger with SPAC Subversive Real Estate Acquisition REIT LP of Canada… Read More Here

Mergers and Acquisitions
$1 Billion Sale of Lumenis to Boston Scientific Completed
Boston Scientific has finalized its acquisition of Israeli energy-based medical solutions developer Lumenis Ltd. The sale price was $1.07 billion. This completes a deal that Boston Scientific first revealed in March… Read More Here

Delek Drilling Sells Tamar Stake for $1.025 Billion to Abu Dhabi Firm
Israel’s Delek Drilling has sold its 22% non-operated stake in the Tamar offshore gas field to Mubadala Petroleum of Abu Dhabi, UAE. Mubadala Petroleum will pay Delek Drilling $1.025 billion for the field, subject to certain adjustments… Read More Here

Israeli Gaming Company Playtika Acquires Finland’s Reworks
Playtika, an Israeli gaming company, acquired Reworks Oy, a Finnish maker entertainment apps. Redecor. The purchase price was not disclosed. But whatever it may have been, Playtika can certainly afford a few acquisitions these days as the company hit an $11 billion valuation with its IPO this past… Read More Here

Israel’s OwnBackup Buys America’s RevCult
OwnBackup, an Israeli startup that offers a cloud data backup and recovery platform, has just acquired California based software company RevCult, which provides Salesforce security and governance solutions, often known as SaaS Security Posture Management (SSPM). The purchase price was not disclosed. But OwnBackup certainly has plenty of cash on hand to spend having completed a $240 million Series E round of investment… Read More Here

America’s Synaptics Buys Israeli chipmaker DSP Group for $540 Million
The Israeli chipmaker DSP Group has been acquired by American software company Synaptics Inc. for $540 million. The deal, which was unanimously approved by the boards of directors of both companies, will see Synaptics buy DSP Group, stock at $22.00 per share in an all-cash transaction. But some are crying foul, saying that the purchase price is unfair… Read More Here

America’s Bioventus Buys Out Israel’s CartiHeal for $500 Million
Bioventus, an American orthologics company, has exercised an option that it held to acquire Israeli medical device company CartiHeal. The price is $500 million with $360 million being paid out in front in cash… Read More Here

Other Business Stories
Breakthrough: Silib Increases Electric Vehicles Range By 40%
Israeli startup Silib has raised $3 million for developing a technology that enables electric vehicles a longer driving range without increasing the volume of the batteries or a longer operating time of various electronics supported on batteries… Read More Here

New Massive Multi-Million Towers Set for Jerusalem Entrance
Jerusalem’s Givat Shaul neighborhood is getting a new multi-function development that will include two 25 story high towers. It will be located on Yosef Weitz Street, where Givat Shaul meets the residential neighborhood of Har Nof, by the Jerusalem Forest, near Road 16, the new western Jerusalem entrance highway… Read More Here

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