Israel Active

Israel’s Cyberstarts, a venture capital fund that invests in early-stage Israeli cybersecurity startups, raised $480 million to make follow-on investments. Meanwhile Apax Israel raised $600 million for its second fund AMI 2. Its first fund’s $21 million of Global-e Online realized $729 million.

Swiss private bank EFG International has launched a wealth management subsidiary in Tel Aviv, after opening representative office in Israel last year. It “aims to capture the significant wealth management opportunities in this market” and offer investment advisory services to clients in the region.

Israeli space companies are experiencing a surge in demand. Since Dec 2022 Israel has launched four satellites. The upturn is led by Israel’s ImageSat International (ISI – see previously) which provides satellite services to governments around the world.

Israeli financial services firm Value Base has secured NIS 700 million ($182 million) for its new private equity fund VBF to target investments into local, mainly publicly traded tech companies. It expects to increase the fund to NIS 1 billion by the end of this year.

Despite the global slowdown, two Israeli billion-dollar companies attracted confident investors in their latest funding rounds.  First HR management firm HiBob raised $150 million at a valuation of $2.7 billion.  Then Cato Networks raised $238 million at a valuation of over $3 billion.

Israel’s Quris-AI (see previously), which uses AI to predict treatment toxicity, has extended its partnership with German giant Merck KGaA. Quris-AI cuts the cost of treatment development and avoids testing on animals.

The solar panels on a roll, manufactured by Israel’s Apollo Power (see previously) have been independently tested and certified as safe for US and European use. It also allows them to connect to the Israeli electrical grid. Apollo has just done a deal with a Turkish company to fit panels on the top of buses and trucks.

Traditionally, US and Israeli navy SEALs find work in security after finishing military service. Now the Israeli startup accelerator Version Bravo has been established, to help former special operators take their military leadership and decision-making skills into the business world.

Israel has approved the 26km, 22 stations, M2 east-west Metro Line. The line will pass through nine local authorities from Petah Tikva in the east, via Givat Shmuel, Bnei Brak, Givatayim, and Central Tel Aviv, to Holon near Wolfson Hospital.

Dronery, a subsidiary of Israeli company Cando Drones (see previously) has conducted a test flight of its air taxi at Jerusalem’s Hadassah Medical Center in Ein Kerem as part of the Israel National Drone Initiative (INDI).