Israel Active

Israeli venture capital fund New Era Capital Partners has closed the first $80 million of its target $150 million 3rd fund so that it can start investing in new Israeli startups. Its primarily focus will be on enterprise software, with strong emphasis on cyber companies with breakthrough technologies.

In July 2024, the average monthly wage in Israel was NIS 13,683, up 6.7% from July 2023 and far in excess of inflation. In contrast, Israeli hi-tech monthly salaries (June figures) averaged NIS 32,215, up 8.1% from a year ago.

Israel’s REE Automotive (see previously) has signed a supply chain deal with India’s auto parts maker Samvardhana Motherson to increase production. Motherson, supplies major car manufacturers in 44 countries, including Mercedes Benz, Audi, Volkswagen, BMW, Porsche, and GM.

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US Comply365 has Israel’s , a premier provider of training management solutions, especially aviation training.

Google has selected three Israeli startups to join 12 others in its inaugural European Google for Startups Accelerator: AI First. They are Bagel AI, Dtect Vision, and . The 10-week program includes mentoring from experts in Google Cloud and Google DeepMind.

Israel’s  Eon.io has emerged from stealth to announce the raising of another $77 million of funds ($127 million in under a year). It markets its systems as a breakthrough in cloud backup where you only backup what you need. The backup data is also available for analysis – the first time that backups are useful.

Mitsubishi Motors Corporation has selected Israel’s C2A Security's EVSec platform (see previously) to manage its cyber protection needs. C2A was chosen for its ability to address auto manufacturer cybersecurity regulations such as United Nations' UN R155.

Israel’s Epsilor (see previously) has delivered the first COMBATT 6T batteries for installing in the Redback Infantry Fighting Vehicle (IFV), which will be supplied to the Australian Army. The batteries store 3,630Wh of energy, the highest energy density in the market.

Jerusalem hosted the 38th meeting of the US-Israel Joint Economic Development Group. Sessions included environmental technologies, strategic regional projects, and foreign investment screening. The war impact was also discussed. Note slight textual differences in the statements linked to below.