CTech’s Sunday Roundup of Israeli Tech News
Homegrown content distribution company boosted the Israeli song ahead of Eurovision final. Synchrony to acquire gifting company Loop Commerce.
18:0513.05.18
Homegrown content distribution company boosted the Israeli song ahead of Eurovision final. Quirky "Toy," sung by Netta Barzilai, had its fair share of fans ahead of the final, but a boost from content distribution outfit Outbrain may have also helped in getting Israel its fourth competition win. Read more
Fans cheering for Netta Barzilai. Photo: Reuters Synchrony to acquire gifting company Loop Commerce. Loop Commerce develops software for personalized gifting, intended to reduce the expenses involved in returns and product exchanges. The company’s technology lets customers pre-choose product specifications like size, and color. Read more
Indorama Ventures confirms 66% stake acquisition in fabric company Avgol. Israel-headquartered Avgol manufactures nonwoven fabrics for diapers and feminine hygiene products. Indorama stated the acquisition will be made at a sum of $1.62 per share, giving Avgol a company valuation of $480 million. Calcalist first reported the negotiations last week. Read more
Looking to enter UPS market, SolarEdge to buy Gamatronic assets for $11.5 million. SolarEdge develops optimization, monitoring and remote-control solutions for solar panels and systems, intended to increase the efficiency of solar energy conversion. Gamatronic develops uninterruptible power supply devices that provide emergency power to appliances when the input power source fails. Read more
Code management startup JFrog hires veteran CFO. JFrog hired Jacob Shulman, a former chief financial officer at Nasdaq-listed Israel-based chipmaker Mellanox. Read more
New venture capital fund by Gil Dibner aims to raise $25 million. London-based Angular Ventures intends to invest in Israel and Europe-based early-stage companies that focus on the US market, according to a report. Read more
Customer relations startup Perceptive AI raises $1.5 million. Perceptive AI develops a machine learning-based system that helps companies predict which customers are likely to purchase new products and which are likely take their business elsewhere. Read more
Cloud cybersecurity startup Protego raises $2 million in seed. Jerusalem-based Protego develops a cloud information security technology that can detect threats and attacks in real time. Read more
