Five more startups for Caesarea incubator
Israeli investment fund Nielsen Innovate launched its incubator in 2012 and by 2015 has 10 startups in Caesarea . It now has 33 Israeli companies in its portfolio and is investing $5 million to bring another five into the incubator.
Swiss investment on the way
Tel-Aviv based Crescendo Venture Partners is setting up a new VC fund of $80 to $100 million to invest in early-stage hi-tech Israeli startups that can transform traditional areas (education, agriculture, construction, healthcare etc.). Swiss-based Crescendo Group manages over $3 billion globally.
US cybersecurity firm to open in Israel
As reported previously, Israel’s Indegy protects the systems of vital infrastructure companies. Nasdaq-listed cybersecurity giant Tenable Holdings has just acquired Indegy for $78 million in cash and will set up a development center in Israel following the deal.
Turning stale bread into beer
Elchanan Bread Bakery in Kibbutz Mishmarot turns leftover baked goods into bread pudding and granola. It also donates stale bread to nearby kibbutzim for animal feed. In its latest process it mixes excess sourdough bread with malt and hot water to make a red ale with an alcohol content of 5%.
East Med Gas Forum is a game-changer
July saw the first meeting, in Cairo, of the Eastern Mediterranean Gas Forum, comprising Egypt, Cyprus, Greece, Italy, the Palestinian Authority and – yes – Israel. These two articles suggest that the EMGF is already transforming the geopolitics of the region.
Intel buys Habana Labs for $2 billion
Intel has acquired Tel Aviv-based artificial intelligence chip developer Habana Labs Ltd. for $2 billion. It is Intel’s second-largest acquisition of an Israeli company. Habana Labs develops processors optimized for artificial intelligence applications.
An intelligent acquisition
Israel-based software testing company Qualitest has bought Israel-based data analysis and machine learning company AlgoTrace. The companies have been working together for over a year. Qualitest says the purchase will enable it to rapidly increase the number of AI-based testing products it offers.
Israeli fund raises $115 million for medical startups
Israeli venture capital firm Peregrine Ventures Management Ltd. has raised a $115 million fourth fund. Peregrine has 45 med-tech, biotech, and life sciences companies in its portfolio and over $200 million under management.
Israeli-founded used-car company raises $0.25 billion
US-based Vroom was founded by Israeli-born Elie Wurtman and Allon Bloch, Vroom develops an online direct-to-consumer platform that offers low-mileage reconditioned vehicles, with possible finance and insurance. Vroom has raised a total of $694 million in funds.
Expanding crop analytics to Central America
Israel’s CropX (reported previously) is partnering with FarmAgro of Costa Rica to bring CropX’s agri-tech solutions and tools to farmers in Latin America and the Caribbean. CropX’s FarmAgro helps analyze the impact of climatic variations and improve agriculture yields.