CTech's Weekly Roundup of Israeli Tech News
A Facebook executive defends the company’s transparency reforms. The downward trend in acquisitions of Israeli tech companies. World Bank says Palestinian tech is growing
Facebook's Mark Zuckerberg testifies in Congress. Photo: Reuters Telit sells automotive unit to China’s TUS International for $105 million. The company said that the sale would allow the company to reduce its debt and focus on its core business of making communication components for industrial machines. Read more
As the market matures, Israeli tech exits continue to diminish, report says. The downward trend in the number of exits in Israel since 2015 continues, with 58 deals recorded between January and June 2018, compared to 63 deals in the first half of 2017. Read more
With 241 startups, and 20% female entrepreneurs, Palestinian tech is growing. A World Bank report published Wednesday provides a snapshot of the Palestinian tech ecosystem. Read more
Next Insurance, a carrier for small businesses, raises $83 million. Next aims to make getting coverage simple and quick for entrepreneurs and small businesses that are underserved by the established insurance industry. Read more
Teva to relocate U.S. headquarters to New Jersey. The relocation will include the transfer and creation of over 800 positions. In December, the Israeli headquartered drugmaker announced a far-reaching cost-cutting plan to deal with its multi-billion debt. Read more
Gene discovery startup announces breakthrough on drought-tolerant crops. Israel’s PlantArcBio has isolated the genes that help desert organisms survive. Now, the University of Wisconsin-Madison will test the genes’ impact on soybean yields. Read more
The world according to China’s no. 1 travel agent. In 2014, Shanghai-headquartered Ctrip, the largest online travel agency in Asia, launched a unique, first of its kind travel package in China: 88 days around the world, priced at $200,000. The company deliberated whether such a product would even have a market. All 22 tickets sold within 17 seconds. Read more
A country made of plastic: Israel’s addiction to disposable tableware. As countries worldwide attempt to reduce plastic consumption, in Israel demand for disposable tableware is on the rise. Read more
