Another Unicorn

Israel’s Aqua Security (reported previously) has just raised $135 million at a market valuation of $1 billion.  This makes it another Israeli company with the financial status of a “Unicorn”.

PayPal acquires Curv

PayPal is to acquire Israeli crypto security Curv (reported previously) for nearly $200 million. Curv will join PayPal's newly formed blockchain, crypto and digital currencies business unit.

The Next takeover

Just three months after acquiring Denver-based Juniper Labs, Israel’s Next Insurance is buying another US company - digital insurance agency AP Intego. The acquisition will double Next’s annual revenue to some $400 million, add 160 employees to its current 400 payroll and bring in 75,000 new customers.

Israel’s robust tech ecosystem

The recent IVC report on the Israeli tech ecosystem from 2015 to 2020 reveals that Covid-19 hit the Startup Nation hard in the first half of 2020. But investments bounced back in the second half, so that 2020 investment in Israel exceeded 2019 by 31%.  And the key reasons were very encouraging.

Another rise in currency reserves

Israel’s reserves of foreign currency reached another record level at the end of February. The total of just over $185 billion was $5.59 billion more than the total at the end of January.

World number 2 for home working

Israel’s Labor and Welfare Ministry reports that due to the high number of workers in education and technology, 47% of Israel’s employees can perform their jobs from home. Israel is second only to Luxembourg for telecommuting and far ahead of the OECD average of 38%.

Wix is worth $20 billion

Website construction tools company Wix.com has become Israel’s most valuable company. Its market value of nearly $20 million tops that of Check Point, Solar Edge, Novocure, Nice Systems and Teva. Wix earned almost $1 billion in revenue in 2020 and, due to expansion, it is still not making a profit!

Investment in Israeli startups: (7/3/21)

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Medi-Tate exits for $300 million

Israel’s Medi-Tate (reported previously) has been acquired by Japanese medical corporation Olympus for $300 million. Olympus invested in Medi-Tate in 2018 and has been distributing Medi-Tate’s solutions for Benign Prostatic Hyperplasia (BPH).

Lumenis’ surgical business sold for $1 billion

US medical devices maker Boston Scientific has bought the surgical business of Israel-based Lumenis (reported previously) from Barings PE Asia for $1.07 billion. The unit will remain in Israel and become Boston Scientific’s global center of excellence in laser technologies.