Israel Active

Israel Aerospace Industries (IAI) will co-supply new radars worth 200 million Euros that will modernize sensor technology onboard the F124 air-defense frigates of the German Navy.

Japan’s second-largest commercial insurance provider, Sompo, is to use the AI-based risk analytics from Israel’s Planck Resolution, to help automate some of Sompo’s underwriting processes. Planck uses public records, online images, videos, reviews etc., to generate risk-related insights.

Israel’s Hanaco is a venture capital fund that invests in companies that adhere to ESG (Environmental, Social and Governmental) standards. In Israel, there is a huge choice and Hanaco has selected Redefine Meat, Via, Infarm, FundBox, Moovit, Candid, EasySend, MDI, Feex (Pontera), SeeTree, and others.

Hollywood actor Leonardo DiCaprio has certainly got an appetite for Israeli startups. In addition to his previous investments (see ) he has now put some of his wealth into Israeli cultivated meat company Aleph Farms “to transform our food system”. He also join Aleph’s advisory board.

In the first seven months of 2021, trade between Israel and Arab states grew by 234 percent compared to the same period in 2020. Trade with the United Arab Emirates surged from $50.8 million between January and July 2020 to $613.9 million in the same period in 2021.

DHL has ordered 12 fully electric “Alice” eCargo planes from Israel’s Seatle-based Eviation (see previously). Delivery to DHL Express is planned for 2024.

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Israeli cybersecurity Snyk (see previously) has just raised $300 million of funds to give it a market value of $8.5 billion. The new funds will be used for product development and to improve its technology.

The General Motors Technical Center in Israel is expanding its activities in the electric and autonomous vehicle market. To house its 600 staff, it is paying NIS 300 million to rent office space in Herzliya for the next 10 years. GM expects to recruit 400 additional staff and rent even more space.

Israeli startup Voyage81 has been acquired by US-based cosmetics company Il Makiage. Voyage81’s AI-based hyperspectral imaging technology for smartphones will be used by Il Makiage to enhance its own PowerMatch algorithm for matching a consumer’s skin tone to the company’s foundation.