Israel Active

The Israel Innovation Authority (IIA) is to launch a Human Capital Fund program. It anticipates providing NIS 30 million to support companies with up to 70% of their models to help train and place reskilled Israeli employees (especially immigrants and the underprivileged) in hi-tech jobs.

Israel’s SavorEat (see previously) has partnered US-French food company Sodexo, to launch its kosher, vegan, gluten-free, allergen-free 3D-printed burger patties in the US. A pilot will commence at US universities where Sodexo already operates.

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Israel’s Melio (see previously) has just raised $110 million at a valuation of $1.3 billion, giving it the financial status of a Unicorn.  The company is still raising funds and it expects to triple in value soon.

US giant Bioventus is acquiring Israel’s CartiHeal (see previously) for $500 million. The decision came after a pivotal clinical trial of CartiHeal’s Agili-C knee cartilage implant.

US electronics giant Synaptics announced it is acquiring Israel’s DSPG (see previously) for about $600 million. DSPG is one of Israel’s oldest high-tech companies. Its voice recognition technology is embedded in Amazon's Alexa interfaces, Google earphones, smart TVs and more.

Israeli-founded cyber security giant Check Point is acquiring Israel’s Avanan, a provider of cloud email security for some $300 million. Avanan’s technology will integrate with Check Point’s threat prevention software capabilities “to deliver the world’s most secure email security offering”.

Israel’s XM Cyber (see previously), cofounded by former Mossad chief Tamir Pardo, is to deploy its cybersecurity products to protect Gulf region gas, oil and financial infrastructures.

Israeli startups raised $1.05 billion in August, bringing the total to $15.3 billion in the first eight months of 2021 – more than the record $10 million raised in the whole of 2020.

Israel’s economy grew by 15.4% in the second quarter of 2021 (Apr to Jun). This was more than most other OECD countries (e.g., Canada 13.8% and the United States 12.2%).