Israel Active

Israeli-Australian VC firm Square Peg Capital expects a wave of innovation and says that the equivalent of a decade’s worth of change has occurred in just two months. Square Peg has raised $250 million for its fourth core fund, of which the Israeli market represents around 40% of its investments.

Israel’s Supercom (reported previously) has won a 5-year contract from the Latvian government to deploy its enhanced PureSecurity product suite. It will provide Latvia’s probation service with innovative advanced features to give a secure alternative to prison incarceration.

As reported , US IT giant NetApp bought its fifth Israeli company recently. NetApp has now paid millions of shekels to Israel’s Iguazio to use its Artificially Intelligent technology to help data analysis and storage optimization for its customers.

Israel’s Otonomo (reported previously) has added another car maker to the partners for its connected vehicle data analysis systems. Its latest deal with automotive giant Fiat Chrysler is estimated to be worth tens of millions of dollars.

SAP SE is expanding its research and development office in Israel. It is looking to hire several dozens of software engineers, big data experts, and managers for both its SAP-Gigya development office located in Tel Aviv, as well as its Ra’anana office. SAP has some 700 employees in Israel.

Israel rose from 4th in 2019 to 3rd of the 202 countries on Startup Blink’s 2020 Global Ecosystem Report. It lists Outbrain, Fiverr and Moovit as the most popular of the 968 startups listed. Israel was 2nd for Coronavirus innovation.

Israel’s Nanox (reported previously) has just received $20 million investment from SK Telecom who will partner Nanox in selling thousands of its portable X-ray machines in South Korea and Vietnam. SK Telecom said Nanox can make a significant change in early disease detection.

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Israeli venture capital fund Red Dot Capital Partners has raised nearly $200 million for its second fund that invests in late-stage companies. Red Dot launched its first fund in 2016, raising $151 million.

Israeli cybersecurity startup foundry Team8 (reported previously) has launched its Venture Capital arm. It has raised another $104 million to invest in startups working in the fields of data, artificial intelligence, cybersecurity, and enterprise technologies.