Israel Active

Israel’s VAST Data, which develops an AI data platform, has secured $118 million in Series E funding at a $9.1 billion valuation, more than 3 times its previous value.

Israel’s Gilat Satellite Networks (see previously) via its Wavestream US subsidiary, has won a nearly $20 million continuation contract to provide the US Army with its all-environments Solid State Amplifiers (SSPA) that sustain anytime, anywhere satellite connectivity.

Israel’s Matrix IT (see previously) is looking to recruit another 700 employees. The positions include software developers, info security, project managers, system analysts, infrastructure and comms, SAP implementers, software testers, cloud personnel, and automation developers.

Israel’s Knesset (parliament) has allocated NIS 30 billion to the war effort, split between military and civil support.

Israel’s OurCrowd and Thailand’s corporate innovative powerhouse RISE announced the establishment of Rise OurCrowd Exponential (ROCX), a VC fund focused on 20 – 30 Israeli deep technologies with potential to grow in Asia. The new fund will begin investing by the end of 2024.

The Israel Innovation Authority is to allocate NIS 9 million for the establishment of three clubs of private investors. They will aid Israeli early-stage startups that are struggling to get critical funding during wartime. The clubs will provide crucial support to technological ventures in their early stages.

More positive talk from OurCrowd Founder and CEO, Jon Medved, who spoke in the UAE and on Bloomberg TV’s "Wall Street Week Daily." He discussed the economic impact of the Israel-Hamas war. His message was Israel tech delivers, no matter what. Israeli tech resilience is almost supernatural.

Israel’s OurCrowd is spearheading the Israel Resilience Fund (IRF) to bolster Israeli startups during the war against Hamas. The $50M fund will invest in 50+ Israeli companies developing vital solutions in the South and North that need funding due to employee call-ups. No management fees!

Israel’s Axilion (see previously) is to help optimize traffic flow along the heavily congested Railroad Avenue corridor in Pittsburg, Pennsylvania USA.

Italy’s System Logistics, manufacturer of global automated warehousing, is piloting Israel’s SaverOne (see previously) on several vehicles in its fleet. SaverOne prevents drivers from texting or using other distracting apps. The system is already being used by Italian vehicle manufacturer Iveco.