Sumarry
In April 2024, according to publicly available market information, the Israeli tech industry raised
approximately $700 million in funding. Investments were received by 29 Israeli companies across various sectors including clinical-stage pharmaceutical research and development, electric vehicle-related technologies, cloud storage, and cybersecurity.
Additionally, 6 Israeli companies were acquired, with the highest acquisition price being $700 million. These companies include Run:ai, a company specializing in artificial intelligence workload management, Deci, a company focused on deep learning AI, Ginzi, a generative AI support assistant, QPoint Technologies, a cybersecurity firm, Roseman, a provider of fuel and electric vehicle (EV) management solutions, and Wevo Energy, a startup in clean energy software.
Israeli companies which received investment in April 2024
| Company Name | Company Introduction |
| BioRaptor | A biotech startup founded in 2021, focuses on integrating Artificial Intelligence (AI) to enhance bioprocessing |
| SuperCom | Traditional and digital identity solution provider |
| Miggo Security | ADR application detection and response platform |
| MagnusMetal | Providing digital casting solutions for metal alloys |
| Mentee Robotics | End-to-end AI integrated humanoid robot |
| Greeneye Technology | Precision Agriculture Technology Company, Intelligent Herbicide Spraying |
| PainReform | Pharmaceutical company, specializing in pain treatment. |
| BridgeWise | AI-based securities research platform |
| DOT Compliance | The industry's first ready-to-use artificial intelligence quality management solution |
| Orbit Communication | Communication equipment and solutions |
| Salvador Technologies | OT/ICS Data Recovery Company |
| Gilat Satellite Networks | Broadband satellite communication (Satcom) network solutions and services |
| NeuroSense Therapeutics | Breakthrough ALS treatment method in clinical stage pharmaceutical research and development |
| BiolineRx | Clinical stage biopharmaceutical research and development company |
| Datafy.io | Innovative startup company specializing in cloud storage optimization |
| Upstream Security | Leading provider of network security extension detection and response (XDR) for connected vehicles and the Internet of Things (IoT) |
| PVML | Next generation data access |
| Carrar | Electric vehicle (EV) battery module and thermal management system supplier |
| Novidea | Cloud-based, data-driven enterprise insurance management platform |
| HUB Security | Confidential computing network security solution and service developer |
| ZOOZ Power | Sustainable and cost-effective deployment of electric vehicle charging stations |
| Data Ownership Protocol | Focus on developing blockchain-based data ownership and privacy protection technologies |
| Nucleai | Space Biology Company, developing an AI-driven platform to enhance drug development and improve patient outcomes |
| Velox | Development and manufacturing of industrial-grade direct forming digital decoration solutions |
| Hailo | Breakthrough AI accelerator and visual processor |
| RedHill Biopharma | Biopharmaceuticals mainly focus on the gastrointestinal and infectious diseases within the professional field of biopharmaceuticals |
| BiolineRx | A clinical late-stage biopharmaceutical development company specializing in oncology |
| Inspira Technologies | Innovative medical technology company focusing on the acute respiratory care market |
| Piiano | Developing privacy engineering infrastructure for cloud-native applications |
Israeli merger and acquisition deals in April 2024
On April 24, 2024, NVIDIA announced the acquisition of two Israeli tech companies, Run:ai and Deci, to enhance its capabilities in AI infrastructure management and optimization, and better manage artificial intelligence workloads. Before the acquisition, Insight Partners had led the financing rounds for these companies, including Run:ai's Series C and Deci's Series A and B. This acquisition could lead to significant advancements in the training and execution of AI models.
1. Run:ai, Artificial Intelligence Workload Management
On April 24, 2024, as announced on NVIDIA's official website, a final agreement was signed to acquire Run:ai, an Israeli company providing Kubernetes-based workload management and orchestration software. The acquisition amount was approximately $700 million. This is NVIDIA's largest acquisition in Israel since the $6.9 billion acquisition of Mellanox in 2019.
Since 2020, Run:ai has been closely working with NVIDIA to maximize infrastructure efficiency. This acquisition enables NVIDIA to integrate Run:ai's complex AI workload management capabilities into its own platform, such as the Nvidia DGX Cloud, which supports complex AI deployments across data centers.
Run:ai operates in the critical area of AI infrastructure, serving upstream data centers and cloud providers and supporting various downstream industry applications such as finance, automotive, healthcare, and top academic institutions. By optimizing the allocation of computing resources, Run:ai helps these industries improve the operational efficiency and cost-effectiveness of AI models.
2. Deci, Deep Learning
On April 24, 2024, the chip giant NVIDIA is in deep negotiations to acquire the Israeli startup Deci. The acquisition amount has not yet been disclosed.
Founded in Israel in 2019, Deci's end-to-end deep learning development platform helps AI developers build, optimize AI models, and deploy them in any environment, including cloud, edge, and mobile. Deci's deep learning development platform utilizes its proprietary AutoNAC (Automatic Neural Architecture Construction) technology, enabling data scientists to build optimal deep learning models for any task, dataset, and target inference hardware.
3. Ginzi Generative AI Support Assistant
On April 15, 2024, Argmax, an Israeli company specializing in artificial intelligence services, announced the acquisition of Ginzi, an innovative Israeli startup providing AI solutions for customer support teams. This strategic acquisition marks a significant expansion of Argmax's footprint in the AI industry. The acquisition amount has not been disclosed. Prior to this, Ginzi had raised $1.5 million in funding.
Argmax excels in leveraging artificial intelligence to combine user needs with opportunities, particularly in the fields of advertising, marketing, and finance. Its innovative AI algorithms are custom-designed to enhance customer engagement and optimize business efficiency.
Ginzi, based in Tel Aviv, Israel, was founded in 2021. It focuses on supporting teams with AI, allowing them to address each customer support issue only once. Ginzi's AI technology learns from past conversations and generates precise responses, significantly increasing response speed.
4. QPoint Technologies, Cybersecurity Company
On April 4, 2024, HUB CyberSecurity (NASDAQ: HUBC), a developer of confidential computing cybersecurity solutions and services, announced the successful cash acquisition of QPoint Technologies. Following the acquisition, HUB owns 100% of QPoint's shares. The acquisition amount has not been disclosed.
This acquisition strategically aligns with HUB's mission to establish a leading global security data structure ecosystem.
QPoint Technologies, founded in 2019 in Israel, offers a wide range of services including software engineering, information and cybersecurity, technology outsourcing, and information systems construction and operation. The company provides comprehensive solutions from requirement analysis to system design, development, and testing in software development projects. Moreover, QPoint also offers services in information and cybersecurity, ranging from protection levels and risk assessments to penetration testing and training consultations.
HUB Cyber Security, established in 2017 in Israel, focuses on unique cybersecurity solutions for protecting sensitive commercial and government information.
5. Roseman, Fuel and Electric Vehicle (EV) Management Solutions Provider
On April 4, 2024, Nayax Ltd., a global leader in business support, payment, and loyalty platforms, announced the acquisition of Roseman Holdings Ltd., a provider of fuel and electric vehicle (EV) management solutions. The specific acquisition amount has not been disclosed.
Based in Tel Aviv, Israel, Roseman offers a range of solutions including fuel management, fleet management, on-site refueling, fuel station management, and electric vehicle management solutions. Particularly in EV management, Roseman has developed comprehensive solutions to help businesses manage the transition to electric fleets, optimize energy consumption through AI and IoT technologies, and integrate renewable energy solutions such as solar and wind power.
Nayax helps global merchants expand their business, providing complete solutions including localized cashless payment acceptance, management suites, and loyalty tools, enabling merchants to conduct business anytime, anywhere. With a foundation in unattended retail services and a global leadership position, Nayax has transformed into a comprehensive solution provider focused on customer growth across multiple channels.
The addition of Roseman's expertise and technology provides Nayax's customers with comprehensive solutions for fleet management, cloud management, and AVI (Automatic Vehicle Identification) applications. Roseman has distributors worldwide, who can now expand their products through Nayax's open-loop cashless payment solutions.
6. Wevo Energy, Clean Energy Software Startup
On April 4, 2024, SolarEdge Technologies, Inc. (NASDAQ: SEDG), a global leader in smart energy technology, announced the completion of the acquisition of all equity in the Israeli energy company Wevo. The specific acquisition amount has not been disclosed.
Founded in 2021 in Israel, Wevo Energy focuses on developing electric vehicle (EV) charging optimization and management software. The company's software platform primarily serves apartment buildings, workplace parking lots, and public charging locations, which typically have a large number of EV chargers installed. Wevo Energy's solutions support open protocols, enabling multi-user pricing and billing management, predictive load management, and other functions.
SolarEdge is a global leader in smart energy technology. This acquisition strengthens SolarEdge's software product portfolio in the commercial and industrial sectors, especially in EV charging management related to solar charging.
