CTech’s Tuesday Roundup of Israeli Tech News
Manikay Partners, international investors to buy stake in the Tel Aviv Stock Exchange. First coworking space for orthodox Jews opens in Israel
Manikay Partners, international investors to buy stake in the Tel Aviv Stock Exchange. In 2017, the Israeli parliament amended Israel’s securities law, enabling changes to the exchange’s ownership structure. Following the change, no single member can own a stake larger than 5%, necessitating the sale of surplus shares within the next five years. New York-based hedge fund Manikay Partners will acquire 19.9%, while an unnamed group of five international investors will acquire 51.8%. Read more
First coworking space for orthodox Jews opens in Israel. Located in Bnei Brak, an ultra-Orthodox suburb of Tel Aviv, Ampersand is set to be “ultra-Orthodox friendly,” while not looking like a yeshiva, founder says. Ampersand is supported by Cisco and received the mentorship of coworking market leader WeWork. Read more
Bnei Brak. Photo: Amit Magal NASA to test Israeli-made anti-radiation vest in deep space. Manufactured by Israel-based StemRad, the vest protects vital body organs and tissues that are especially sensitive to radiation. According to a statement, the company hopes the results of the experiment will lead NASA to use the suit in future manned missions to space. Read more
AI-based automated legal contract reviews startup LawGeex raises $12 million. The software developed by Tel Aviv-based LawGeex automatically reviews legal contracts. Read more
Visual software testing startup Applitools raises $31 million. Applitools’ software mimics the way the human eye and brain perceive visual information to monitor the visual aspects of web and mobile apps. Read more
Israeli venture fund appoints former AT&T executive as partner. Gadi Porat, former head of AT&T’s Israeli innovation center, joins Jerusalem-based JVP as head of its cybersecurity startup accelerator. Mr. Porat will be replacing Yoav Tzruya as head of the accelerator located in Beer Sheva, a desert town in Israel’s south. Read more
OrbiMed invests $16 million in derma company Foamix. Foamix is a clinical-stage company developing specialty topical foam treatments for unmet dermatological conditions. The company's leading pipeline products focus on acne and rosacea, a common and often chronic skin disease. Read more
Teva blocked from launching generic version of Israeli sleep medicine Circadin. On Monday, an Israeli court issued a temporary injunction against Teva, following a lawsuit by the brand drug's maker Neurim Pharmaceuticals. Teva has been the drug's sole distributor and Neurim's strategic partner in Israel since the drug was launched in the country in 2008. Read more
Air France–KLM launches direct flights from Amsterdam to Israel’s southern resort town Eilat. The company will operate semiweekly flights on the route through its low-cost subsidiary Transavia during winter months as part of a government incentive program. Read more
