CTech’s Thursday Roundup of Israeli Tech News
There are no winners in trade wars, said Primavera Capital Group’s founder and chairman Fred Hu. Eric Schmidt's Innovation Endeavors raises $333 million
17:3724.05.18
There are no winners in trade wars, said Primavera Capital Group’s founder and chairman Fred Hu. Planned tariffs for Chinese imports will hurt American consumers, the founder and chairman of Primavera Capital Group said. Mr. Hu led Goldman Sachs to become one of the earliest investors in Chinese ecommerce behemoth Alibaba. In a May visit to Israel, Mr. Hu offered his observations regarding regulation on outgoing Chinese investments, on a potential trade war between the U.S. and China, and on the involvement of Primavera and Alibaba in the Israeli technology industry. Read more
Eric Schmidt's Innovation Endeavors raises $333 million. Established in 2010, the firm's portfolio companies include Uber, and content distribution company Taboola Inc. The new fund secured its first commitment in October 2017. Read more
Jack Ma receives honorary doctorate from Tel Aviv University. Photo: Amit Sha'al Instant insurance startup Next Insurance becomes licensed carrier. Next Insurance offers businesses such as kindergartens, yoga instructors, and home renovators personalized insurance policies that are issued within minutes. The company obtained its first carrier license in Delaware, and is currently expanding to all 50 U.S. states. Read more
Enel to deploy autonomous maintenance drone at Italy power plant. The Italian energy company selected a drone system developed by Israeli startup Percepto. Read more
Intesa Sanpaolo, OurCrowd partner to offer crowd startup investments in Italy. Intesa Sanpaolo is Italy’s second-largest bank, while OurCrowd is Israel’s largest crowdfunding platform. The partnership is intended to facilitate corporate investments in OurCrowd's portfolio companies, and bring Israeli technology to Italian corporations. Read more
Automated video company Magisto reaches 100 million users. Magisto develops and operates a web and mobile app for automated creation of short digital videos. Last year, the company was declared a Facebook Marketing Partner. Read more
Electrical equipment company Coolisys Technologies completes Israeli acquisition. Israel-based Enertec Systems develops and manufactures specialized electronic systems for military applications. Read more
Bullguard to Expand Israeli IoT Center with $5 Million Investment. The U.K. cybersecurity company acquired Dojo-Labs, also known as Bullguard Israel Ltd., in 2016 and turned it into a local research and development center. Read more
