The unique model of this article was printed on Linkedin.
It’s #Firgun time.
The phrase “Firgun” (pronounced ‘feer-goon’) is a casual trendy Hebrew time period and idea in Israeli tradition (initially Yiddish), which describes real, unselfish delight or delight within the accomplishment of the opposite particular person. It’s the other of “schadenfreude”. Firgun is all about genuinely feeling and expressing happiness, delight, or admiration for another person’s accomplishments, luck, or well-being. Extra about Firgun and why it issues on VC Cafe: https://lnkd.in/dg2a86p
Israel’s high enterprise publication Calcalist and Financial institution Leumi held Thoughts the Tech in London this week, the place Michael Levy, the brother of Israeli hostage Or Levy spoke in regards to the hardship that their household (together with Or’s 3 12 months previous son Almog) and over 100 different households have been residing via since Oct 7. Their family members are being held in G**a with no info on their standing, no Pink Cross go to. We should #BRINGTHEMHOME Now!
This week was a bit loopy in Israel, with a collection of mysterious blasts hitting H**bo**h in an operation that appears to be taken out of a film script. However whereas there’s an ongoing warfare for the previous 11 months, startups proceed to innovate and make progress. The quilt of the e-newsletter this week is devoted to gaming, as Israeli startup SuperPlay was acquired by Playtika for $700M (with an earn out potential reaching as much as $1.9 billion primarily based on milestones). This brings the exits of Israeli startups within the first 9 months of 2024 to over $12 billion to date, exceeding 2023 figures. It’s one other testomony that Israeli startups ship #NOMATTERWHAT.
It’s been additionally a packed week of reports within the wider tech world. OpenAI in on track to boost $7 billion at $150 billion valuation (and on track to do $3.4 billion in income this 12 months). Microsoft and BlackRock are teaming up for a brand new $100 billion AI infrastructure fund. Apple began transport the brand new iPhone 16 (with Apple Intelligence in beta) and Snap Inc. has launched some new AR glasses. YouTube is providing creators entry to VEO, new AI video fashions created by Google DeepMind, Salesforce introduced it’s going ‘all in’ on AI brokers and AI avatars and Amazon is integrating new AI video options for the creation of advertisements. Final however not least Lionsgate introduced a partnership with Runway to convey AI into Hollywood filmmaking. ByteDance launched Seed-Music, a Suno-like music era system. The EU appointed its first EU Commissioner for Startups amidst and printed a report by Mario Draghi on the way forward for EU competitiveness.
On a aspect be aware, I’m blissful to share that the #Firgun e-newsletter simply crossed 5,500 subscribers. It’s been my labor of affection for the reason that starting of Covid, and it all the time warms my coronary heart after I meet individuals who learn the e-newsletter and say a pleasant phrase. If you realize of somebody who can profit from it, please share it with them. Let’s dive in to the founders and buyers who made an influence in Israeli tech this week.
QUOTE OF THE WEEK
“Innovation typically emerges not in instances of peace, however in moments of adversity, when creativity turns into a necessity for survival.”— Nameless
NEW FUNDING ROUNDS
- Congratulations Daniel Barel and REE Automotive on securing a strategic funding of $45M to scale new electrical supply automobile platform!
- Approach to go Itai Tevet and workforce Intezer on elevating $33M collection C in your Autonomous SOC Platform to sort out cybersecurity threats with AI!
- Properly executed L.D. Salmanson and workforce Cherre on the $30M collection C in your actual property information analytics and administration platform!
- Kudos Adi Perry and workforce with on securing a $10M seed spherical to show cities into communities with generative AI!
- Congrats on the milestone Leor Ceder and workforce Payouts.com on elevating an $8M seed extension (bringing the entire spherical to $12.1M) for an AI-powered resolution that allows companies to mechanically handle funds and vendor relationships!
- Large thumbs up Oshri Cohen and workforce Cybord on elevating an $8.7M collection A in your visible analytics analytics platform targeted on the digital element manufacturing course of!
- Excellent news Kfir Nissim and workforce Pickommerce AI Robotics on securing a $3.4M seed spherical to improve warehouses with robotic piece-picking resolution!
- Mazel tov Alon Zieve and workforce Aption on securing $2.4M in seed funding to allow founders, workers, and fairness holders in non-public firms to effectively cut back concentrated publicity in a single startup by pooling property with different promising firms!
EXITS
- Large congrats Gilad Almog and workforce SuperPlay on the $700M acquisition by Playtika! It’s a testomony to the huge potential of gaming expertise in Israel.
NEW FUNDS
- Kudos Gilli Cegla on the launch of UNICAMEL, a $10M enterprise fund targeted on early stage Israeli startups!
LINKS FOR YOUR BROWSER
Israel:
International:
MEDIA OF THE WEEK
Previous however gold – rating of international undergraduate packages by the variety of US unicorn founders (by Ilya Strebulaev)
Large bother forward for struggling unicorns. In keeping with SVB’s state of the market report, practically 30% of US unicorns are unprofitable with declining year-over-year gross sales.
Deloitte’s Q3 2024 State of GenAI in Enterprise Report reveals some compelling insights. Majority of organizations (70%) have moved 30% or fewer of their GenAI experiments into manufacturing. ROI from Generative AI is a rising concern.
The EU has a aggressive downside. It faces a shrinking share of the worldwide financial system (supply)
Causes teenagers say they’ve use generative AI for
Nike‘s new CEO Elliott Hill began within the firm 32 years in the past as an intern!
That’s all for this week. There’s lots to have fun in our “small” group. Carry on creating!
I am a former normal associate at google ventures, head of Google for Entrepreneurs in Europe and founding head of Campus London, Google’s first bodily hub for startups.
I am additionally the founding father of Techbikers, a non-profit bringing collectively the startup ecosystem on biking challenges in assist of Room to Learn. Since inception in 2012 we have constructed 11 colleges and 50 libraries within the creating world.
