Israel Active

Tel Aviv-based venture capital firm Amiti Ventures has secured $110 million in commitments for its third fund. It will invest in early stage Israeli companies that otherwise would suffer due to the global Covid-19 crisis. Most of fund’s money comes from investors outside of Israel.

Israel’s Pixellot (reported previously) and Barça (FC Barcelona) have signed a partnership to record and analyze the team during training sessions. Pixellot has been working with Barcelona for 3 years, supplying its automated AI cameras at the Ciutat Esportiva, and the Estadi Johan Cruyff.

US giant KLA Tencor acquired Israel’s Orbotech last year for $3.4 billion. Since then, KLA has moved its flat panel display testing equipment production to Israel. Some 90% of the company’s total production will be performed in Israel by end 2021.

Microsoft’s Tel Aviv development center is expanding. Its 1,500 employees will move to WeWork’s Midtown Tel Aviv building, specially tailored to Microsoft Israel’s R&D division’s needs. Joining them are Microsoft for Startups, the Microsoft accelerator, and Microsoft’s Reactor.

Israeli entrepreneurs vary between those who want to grow billion-dollar “Unicorns” or those that simply want to make a quick profitable exit and start a new company. Here is the view of the latter. Ram Yonish is now helping other entrepreneurs make that decision.

Israeli-founded Payroll and workforce management tool Papaya has acquired Israeli HR information system platform Mensch. It will result in what Papaya says is the first global human resources management system.

Israeli digital advertiser Kendago B2C Media Solutions was on the rise well before the arrival of Covid-19, growing by 150% year-to-year in 2019. It has since grown another 600%, marketing companies selling inexpensive products online to customers staying at home.

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Despite coronavirus, startups in Israel raised $2.5 billion during the 3 months from Apr to Jun 2020, 13% higher than the same period in 2019.  The number of deals - 170 - was 33% more than the number of transactions in the second quarter of 2019.

Israel’s Magal Security Systems (reported previously) has just won $2.5 million of orders. One is to extend its security contract with the Spanish port of Tarragona. The others are for new seaport security projects, including at the mainly Muslim Republic of Djibouti in the Horn of Africa.