Israel Active

Israeli-founded startup Fabric, incorporated as CommonSense Robotics, turns underutilized urban retail spaces into 1-hour delivery centers where robots store, sort, and process inventory. Fabric has just raised $110 million to expand its team in both Israel and the U.S.

Israeli insurance software company Sapiens International employs over 2,500 people globally and is still growing. It has just taken over Madrid-based insurance consultants Calculo. The acquisition will help Sapiens enter the Spanish market.

Israeli founded Next Insurance employs 85 people in Israel and over 100 in the U.S. It has just raised $250 million to push its valuation over the $1 billion mark and give it the financial status of a “Unicorn”. The funds will be used to grow its global team and the Israeli R&D center.

Israel’s Phoenix Insurance has partnered with Israel’s Air Doctor which locates recommended doctors for travelers to Europe and the Americas. The joint service has already helped Phoenix increase traveler's health insurance revenues and reduce medical visit claim costs.

The Philippines new $38.7 million Gulfstream G280 Presidential plane was developed and manufactured by Israel Aerospace Industries.  The Philippine government considers the plane “a necessary component of its modernization program” and not solely for use by President Duterte.

US cable sports channel ESPN is partnering Israeli automated video startup Pixellot to broadcast the America East Conference on ESPN’s digital platforms. With Pixellot’s multi-camera system, ESPN will show soccer, field hockey, lacrosse and volleyball games to new audiences.

Richard Branson kissed the ground on arriving at Ben Gurion Airport to formally launch Virgin Atlantic’s direct flights from London to Tel Aviv. In its first month, 14,000 people have flown Virgin to Israel. Branson praised Israel and said that more Virgin companies will launch in Israel.

The governor of the Bank of Israel Amir Yaron has won the $100,000 biennial Stephen A. Ross Prize from the US Foundation for the Advancement of Research in Financial Economics. Mr Yaron co-authored an influential research paper on long-term asset pricing.

Israel’s Minister of Finance, Moshe Kahlon, and Bank of Israel Governor Prof. Amir Yaron, led the Israeli delegation to the annual World Bank and International Monetary Fund conference. There was much interest in Israeli cyber technology to protect international financial systems.

Israeli startups raised at least $1 billion of funds in Sep 2019 and are on track to beat last year’s record-breaking figure of $6.4 billion. The actual figure is even higher as some companies do not reveal investment data.