Drive by wire truck goes commercial
The P7-C Electric Commercial truck from Israel’s REE Automotive (see previously) is now being delivered to customers. It is the first fully “by-wire” (i.e. electronic, not mechanical) vehicle certified by the US Federal Motor Vehicle Safety Standards and Environmental Protection Agency.
Startup investment – to 4/2/24
raised ;
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Exits, takeovers, and mergers – to 4/2/24
Israel’s has acquired North America’s STN Video for an estimated .
Keeping exotic mushrooms fresh
Israel’s StePac (see previously) has customized its award-winning modified atmosphere packaging (MAP) films to preserve fresh whole exotic mushrooms, such as oyster, lion’s mane, shiitake, portabella and more. It slows deterioration and cuts waste of this highly perishable item.
Rescuing vessels in the UK and Israel
Israel’s Sealartec (see previously) is now plain sailing since it rescued its first floundering boat in 2019. It secured its first UK investor, BAe, and now its ALR (Autonomous Launch and Recovery) system is used by several UK and Israeli companies with a US launch in progress.
El Al adds more US flights
El Al plans to add five weekly flights to Israel in the coming months. Two from Fort Lauderdale (pre-Passover); two to Los Angeles (to add to its current daily flights) and one more to Boston (to increase its schedule to four times a week). It will give El Al a total of 52 weekly flights to the US.
But most of the multinationals are fine
The top 10 largest multinationals (MNCs) including Intel, Nvidia, Google, Microsoft, HP, Applied Materials, IBM, Philips, & Apple, employ 37% of Israel’s workers. 60% of all MNCs said the war had minimal impact on their Israeli business, with 30% reporting limited impact.
Google’s AI startup lifeline
Google is launching a $4 million fund to provide a lifeline to around 20 cash-strapped Israeli startups developing artificial intelligence technologies. Google is also offering mentoring support to the selected startups to help with development, strategy, and marketing.
Vote of confidence in Israel’s economy in the face of war
Very positive assessment by Ambassador Yoram Ettinger. A low debt to GDP ratio; high foreign exchange reserves; He even quotes a positive article in the New York Times. And that according to Intel’s CEO: “The Israeli people are the most resilient people on earth”.
Be the President of your field
Very clever new marketing video from Israel’s CropX (see previously).