Israel Active

Sweden’s Innovation Agency, Vinnova, is partnering Israeli non-profit Startup Nation Central to promote innovative R&D projects. Called “Connector”, it will have a 2 million Euro budget for companies and academic institutions to engage in co-development.

Israel’s $2 billion annual trade with South Korea is set to surge. Covid-19 infections are low in both countries and Korea’s digital and green “New Deals” plus its K-Startup Grand Challenge will attract Israeli innovators. Samsung, Hyundai, LG etc. already partner many Israeli companies.

E-Commerce giant Alibaba has launched Alibaba.com Freight to help American companies dispatch their goods by sea and air. It uses technology from Israel’s Freightos (reported previously), which compare prices and manages shipments in real time.

Israel’s Air Doctor (reported previously) locates a trusted physician if you fall sick abroad. In Dec 2019, it launched a telemedicine service for travelers to virtually meet with physicians who speak their language. Usage of the service has soared 150 percent in the last two months.

Business for Israeli startup Zeekit, has surged during the Covid-19 pandemic. Zeekit’s technology (reported previously) virtually dresses on-line shoppers and fashion models. Recent new customers are Walmart, Macy’s, UK’s Asos, Adidas and Tommy Hilfiger.

The valuation of Israel’s Monday.com, which makes software to help employees work remotely, jumped to $2.7 billion - a 42% increase since it last raised funds. The company says its tools help its 100,000 paying customers keep tabs on assignments and avoid communication breakdowns.

Four Israeli entrepreneurs launched their companies during the coronavirus pandemic. Stayy Live streams live broadcasts; Gooo allows greengrocers and farmers to sell direct to consumers; Canditech provides remote recruitment; and Wishbox manages hotel guests during the pandemic.

Israeli Venture Capital fund Cyberstarts has just closed its second $100 million fund for investing in early-stage cybersecurity startups. To date, the fund has made six investments, and highlights the growing demand for innovative cybersecurity solutions, particularly in times of crisis.

Israel’s 3d Signals has won a Red Herring top 100 Europe award, recognizing it as one of Europe’s outstanding and promising companies. 3d Signals is an Industry 4.0 pioneer with its AI-based IoT Asset Performance Monitoring platform for digitalizing production floors.

US giant National Instruments Corp bought Israeli data analytics Optimal+ (reported previously) for $365 million. Optimal+ founder and CEO Dan Glotter said the deal was “testament to the leading-edge innovation delivered by our R&D, Product and Data Science teams in Israel”.