Which companies reached unicorn status despite revenue of just a few million dollars and what are Microsoft's plans in Israel?
CTech Daily Roundup: LinkedIn exec invests in Israel’s Loris.AI to save customer service
LinkedIn exec invests in Israel’s Loris.AI to save customer service. Loris.AI has developed an AI system that helps customer agents provide effective responses, reducing antagonizing chatbots. Read more
Microsoft headquarters in Herzliya. Photo: Amit Gron
Israel’s WalkMe completes acquisition of AI enterprise search company Zest. The acquisition aims to increase the capabilities of WalkMe’s Workstation ahead of the company’s planned IPO later this year. Read more
Israeli startups Orca and Wiz reached unicorn status despite revenue of just a few million dollars. Orca raised $210 million in round C funding at a valuation of $1.2 billion just last month, but U.S. publication The Information has revealed that it only had annual recurring revenue of $4 million at the time. According to the report, Wiz’s latest funding round reflected a times 600 multiplier. Read more
HARMAN and Audioburst bring personalized listening experiences for drivers around the world. HARMAN has 50 million automobiles on the road with its audio and connected car systems. Read more
DataRails raises $18.5 million led by Oren Zeev to expand financial planning solutions. The Israeli startup said it increased its annual recurring revenue fivefold during 2020 after launching its new product for small and medium-sized businesses. Read more
Dr. Iris Ginzburg joins Willa to take empty-nesters shared-living to the next level. Tel Aviv University innovation expert to put theories on community into practice with the demographic that is set to dominate the 21st century. Read more
Fortissimo Capital to invest $20 million in BreezoMeter at $60 million valuation. The private equity firm is leading a $25 million funding round in the Israeli startup that aims to monitor air quality and improve people’s health. Read more
Microsoft to open datacenter region in Israel in early 2022. The new datacenter region will be made up of multiple datacenter facilities with redundant power, cooling, and networking and shows the company plans to provide cloud services for businesses in Israel despite being left off the finalist list in the tender for the country’s flagship cloud project. Read more
Say goodbye to car keys: Israeli startup develops mobile version. Cobra launches its Mobile-Key technology which enables car door to be opened and closed, motor to be turned on and off, while controlled from a smartphone app. Read more
Tech on the Roof | “Israel’s tech sector beat Covid-19,” says Calcalist publisher. Despite the challenging year to the local and global economy, Israeli tech companies racked up incredible achievements, Yoel Esteron said at the ‘Tech on the Roof’ event hosted by Calcalist and Bank Hapoalim. Read more
Assaf Rappaport: "Israeli tech's glass ceiling is manpower, not money." The CEO of cybersecurity company Wiz, who spoke at the ‘Tech on the Roof’ event hosted by Calcalist and Bank Hapoalim, also added: "The money is flowing into the country at a pace we can't sustain. That is why the first thing that we will see is an increase in salaries.” Read more
Opinion | Further U.S. restrictions against business with China and Russia may potentially impact Israeli companies. As the United States continues to take a hard line in its national security approach toward Russia and China, Israeli companies must evaluate whether their products and services trigger U.S. sanctions. Read more
