ecosystem Archives - salamtechs

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IIF: UAE economy to grow faster untill 2024. UAE GDP to grow 2.3% in 2021, 3.0% in 2022, 3.4% in 2023 and 3.5% in 2024.

Google’s AI-focused venture fund leads $5.4M investment for Seattle analytics startup Iteratively.

MediBuddy raises $40 million in Series B funding, while announcing its merger with online doctor consultation startup DocsApp.

InnerHour raises $5.2 million led by Lightbox, it will use this funding to scale its technology-led mental health platform

MPL moves closer to becoming gaming unicorn with $95 million funding, plans to use the new funds to expand its overseas business in 2021.

Vested Finance raised $ 3.6 million in seed funding to facilitate Indian investors’ entry to invest in US markets.

Robinhood raises $1 billion lifeline from investors to meet regulatory requirements

Jessica Alba’s clean-living subscription startup, The Honest Co., confidentially files for a $2 billion IPO.

The Honest Company, a baby and beauty products startup co-founded by actress Jessica Alba, is reportedly seeking to raise $2 billion in an initial public offering (IPO), according to a report from Bloomberg BNN.

CDC issues new mask mandate: Double masks now required for travelers on all U.S. public transportation effective February 1; threatens ‘enforcement through criminal penalties’.

Qualtrics, a survey software startup acquired by SAP for $8 billion, pops 51% on IPO debut; now valued at $27.3 billion.

Today in history: Apple Macintosh becomes the first commercial computer to popularize computer mouse and graphical user interface on Jan. 22, 1984.

Netflix-for-finance-learning startup Finance Unlocked raises $2.39 million for its video learning platform for the finance industry.

The global eyewear market, which is made up of spectacles, contact lenses, sunglasses, and other eyewear products, was estimated to be valued at $147.60 billion in 2020.

New York-based GlassesUSA.com raises $45M funding to support the $147 billion global eyewear industry.

Crosslink launches $350M fund to back early-stage startup founders.

Elon Musk’s SpaceX now wants to drill for natural gas in Texas.

Elon Musk is donating $100 million towards a prize for best carbon capture technology; a key effort to fight climate change.

The Israeli tech industry continued its rapid pace of investment despite the COVID-19 pandemic, reaching $ 9.9 billion in 578 deals in 2020.

These annual figures align with the growth trends observed in previous years, beating 2019 results with 27% in equity and 14% in several deals.

Megadeals in Israeli technology (more than $ 100 million) became commonplace in 2020 and made up nearly a third of the total amount.

However, despite the number of these massive deals, deals did not witness a significant increase in 2020. The rise in capital compared to 2019 was evident in the increase in the average mega deals in dollars.

Central Bank of Israel to buy $30 billion in forex in 2021 to curb shekel rise.

Israeli fintech company Rapyd raises $300m.

Instant COVID-19 breath test as precise as swab test, Scentech Medical Israeli company says, and awaiting FDA approval for test with 98% accuracy.

VComply raises $6 million in Series A from Counterpart Ventures and Accel.

Unacademy became a unicorn, made five acquisitions and raised three rounds of funding – all in 2020.

Tiger Global, others buy $50 million shares in Unacademy in secondary transition.

N+1 Capital’s maiden fund to invest $100 million in startups.

US startups raise their record investment in 2020 for the fourth quarter to $ 156.2 billion.

Seattle biotech startup AltPep raises $23.1M to tackle Alzheimer’s and related diseases.

UAE Covid vaccine: Over 1 million doses administered. The health authorities in the country aim to vaccinate over 50 per cent of its residents in the first quarter of this year.

Israel’s IMCO to participate at IDEX Abu Dhabi, showcase UAVs and other complex defense solutions.

With multi-center clinical trials in Israel, US and UK, Israeli startup OncoHost hopes to launch life-saving test kit in 2021.

An Israeli university that invented a spit test for the coronavirus has rolled it out for regular use by staff and students, in a bid to drive down virus cases on campus.

Israel’s Biond Biologics to get $125 million from Sanofi to develop cancer drug.

Facebook-owned messaging app denies new terms of service will make it less secure: ‘We can’t see your private messages or hear your calls’.

In India, Between January 6 and 10, Signal has racked up 2.3 Mn downloads while Telegram had 1.5 Mn new downloads during the same period, as WhatsApp Falls.

Spectrum Effect raises $9.5M for machine learning tech that helps mobile operators avoid interference.

Former Zulily execs raise $150M for new firm that buys and supercharges e-commerce businesses.

Mailchimp acquires Chatitive, a B2B messaging startup and Madrona Venture Labs spinout.

Udaan raises $280 mn from new and existing investors, valuing the e-commerce B2B firm at $2.5-2.8 billion.

Israel earmarks NIS 80 million to help early-stage startups by granting of up to 50% of seed funding round.

Jumbotail raises $14.2 million, completing its $25 million fund raise.

More than 2 billion WhatsApp users will have until February 8th to agree to share data with Facebook if they want to continue using the app.

Israel sees trade with UAE at $4 billion a year.

Warburg invests $100 mn in boAt. The funds will be used by the four-year-old company to boost its research and development capability, expand its product portfolio.

Seattle startup Yesler raises $3.3M for its B2B lumber and building materials marketplace.

NextStep, a Seattle startup which uses its technology platform to retrain displaced workers for roles in the healthcare industry, has raised $2.5 million in new funding.

Omnivor raises $2.7M as pandemic spurs interest in holographic media from Nike, T-Mobile, others.

The UAE Central Bank said the economy is expected to grow by 2.5% in 2021.

Disputes mediation platform Immediation has raised $3.75 million in Series A funding, after COVID-19 led to a tech overhaul of the legal system and 1000% growth.

Paul Bassat’s Square Peg Ventures has closed its $600 million fourth fund, bringing its total committed capital to a whopping $1.4 billion for investment into Aussie, and global, startups.

Neo bank startup Oxygen raises $17M Series A funding to offer flexible banking solutions for small businesses.

Sheikh Mohammed Bin Rashid, hails ‘stellar success’ of UAE economy in overcoming challenges of 2020.

UAE businesses see profitability returning to pre-coronavirus levels by 2022. Positive outlook is driven by the UAE’s coronavirus response and business-friendly reforms, says HSBC.

UK partnership will help drive post-pandemic recovery, says UAE Minister of Economy, in healthcare, education, financial services and AI as potential areas for trade development.

Perth-based energy tech startup Gridcogniton has recently closed a $675k pre-seed investment round with some of Australia’s leading tech and clean energy investors…

Chemmannur International is the first Indian company to seek approval for 100% ownership in Emirati projects after changing foreign ownership regulations.

UAE’s Minister of Economy says new foreign ownership rules aim to create 700,000 companies by 2030.

Madrona Venture Group has raised more than $500 million in fresh capital that the 25-year-old Seattle venture capital firm will use to bankroll both early and later-stage startups.

Israeli water tech sees opportunities in the United Arab Emirates.

Indonesian fisherman caught a Chinese underwater spy drone on a possible covert mission.

Tesla delivers nearly 500,000 vehicles in 2020, a 36% increase over the previous year.

Crypto investors open to investing 50% of their savings into cryptocurrencies, a new survey shows.

Elon Musk’s SpaceX to bring Starlink fast satellite internet to Greece by April.

IDEMIA is seeking to pilot the next generation biometric card technology as a reference for contactless payments in India through a partnership agreement with ZWIPE.

M&A deals plunge in Israel as pandemic sidelines foreign investors, and Value of deals drops by 50% to $10 billion.

Pfizer, Amazon and AstraZeneca selected to promote biotech startups in Israel.

Israeli Bazan Group embarks on $3.7 million project to advance hydrogen-fueled vehicles.

Online trading platform eToro reportedly planning IPO at $5b valuation.

The Israeli shipping company Zim reportedly plans to raise up to $500 million at the end of January, at a company valuation of $1.5 billion.

China-based online learning app Zuoyebang announced that it has raised $1.6 billion in a Series E+ funding round, bringing total known investment to date to around $2.9 billion.

The Washington-based Woodinville Corporation raised $ 17 million to expand and develop charging of lithium-ion battery optimization technology.

Seattle-based Bloccelerate raises $12M for first fund to invest in blockchain startups.

NASA receives response from Voyager 1 spacecraft 13 billion miles away after 37 years of inactivity.

Healthtech startup DXY raises $500 million for China’s leading online healthcare platform.

SpaceX’s rival Viasat says SpaceX’s Starlink 3000 satellites pose environmental hazards in space and on Earth; petitioned the FCC to perform environmental review.

Bitcoin is reaching the most extensive record in its history, exceeding the $ 26,500 mark, and the rise continues.

Startups eye new offerings to fuel EV strategy adopted by mobility companies to pursue green vehicle technologies to bring down capital and operating expenditure, and reduce their carbon footprint.

On Friday, food delivery platform Zomato announced the closing of a $660-million primary financing round at a post-money valuation of $3.9 billion.

Alphabet’s Google and Microsoft joined an investment round of more than $100 million in VerSe Innovation Pvt, maker of India’s Josh short-video app.

Slurrp Farm raises $2 million from Fireside Ventures to expand the product portfolio and increase marketing.

More than 50,000 Israelis visited Dubai as economic ties between the UAE and Israel grew rapidly.

Arbe Robotics has revolutionized the ultra-accurate radar system, providing perfect visibility into cars and the system recognizing objects and people at a distance of up to 300 meters.

Content discovery firm Outbrain is seeking to hold an initial public offering of shares on Wall Street at a $2 billion valuation after a merger deal with a competitor Taboola fell through.

Israel’s Limaca Medical says it has developed a medical device to perform endoscopic ultrasound-guided biopsies with ‘ten times’ greater procedural efficiency.

Toyota beats Tesla to become the first company to develop electric car with solid-state battery; plans to unveil game-changing EV prototype in 2021.

UV LED lights kill 99.9% of coronavirus in 30 seconds, Israeli researchers found.

People who made antibodies to fight COVID-19 are much less likely to test positive again for up to six months and maybe longer, 2 new studies show.

The first Israeli hospital to provide medical services in Dubai: Al Tadawi Healthcare Group in Dubai has partnered with Sheba Medical Center in Israel to provide a new set of advanced healthcare services.

The two export credit agencies of Israel and the United Arab Emirates signed a cooperation agreement to strengthen economic and trade relations between the two countries, jointly supporting an increase in exports, trade, and investment.

The UAE is hosting an international dialogue that includes Bahrain, Israel, and the United States to support regional energy and promote peace and stability in the region by promoting economic growth in the energy sector and intensifying joint efforts to find solutions to energy challenges.

An Emirati-Israeli commercial consortium buys British payments company Finablr after it ran into financial difficulties.

In a year full of anxiety, Seattle-based startup Freespira raised $ 10 million to support its efforts to develop and deploy technology that reduces panic attacks and post-traumatic stress disorder.

Portland startup Koan raised $1 million for the OKR collaboration software platform and acquired Horrible Design Co to help support growth.

Seattle’s Pure Watercraft raises additional $14M to power its plans for electric boat motors.

After huge growth in 2020, Seattle startup Rec Room raises $20M to expand virtual hangout game.

The Genesis Prize is awarded to 10 Israeli high-tech companies that help fight COVID-19.

Despite the Corona pandemic, the Tel Aviv Stock Exchange has attracted the most initial public offerings since 2007. Of the 27 companies that have listed their shares on the stock exchange this year, 19 are technology.

The shekel rose to its highest level in 12 years against the US dollar and reached a price of 3.2265 shekels per dollar.

US-Israel fund to invest $7.15 million in eight clean-energy projects Fast-charging batteries, next-gen heat devices, eco-friendly concrete.

Israel’s Moon Active, the developer of Coin Master, acquires Melsoft in a deal valued at over $100 million.

The real estate market in Dubai is looking to recover with the search for Israeli investors.

Israeli researchers at the Weizmann Institute have discovered new peptides that can help eliminate cancer.

UCT buys Israeli company Ham-Let for $ 348 million and triples its investment in a developer of industrial control and flow systems for semiconductor production.

Microsoft said that dozens of its customers, including firms in Israel and the United Arab Emirates, were targeted as part of the massive cyber-assault on US government institutions.

An Israeli study showed that general anti-fat drugs might eliminate the severity of Covid-19, and the fantastic results revealed by the Hebrew University team.

Avi Lieberman is setting up a startup that wants to revive phone calls to talk to friends and make new friends.

US-based startup Superpedestrian, raise a record $9.93 billion in 2020.

Israeli tech firms raise record $9.93 billion in 2020 but M&A deals plunge.

Comparing the startup ecosystem in the Middle East

Comparing

The Middle East and Africa region include 55 startup ecosystem represented in the top 1000 rankings. The region mainly consists of developing countries and consists of 20 countries in the top 100 rankings. The leading player in the area is Israel. Regardless of Israel, which in 2020 advanced to third place in the world after […]

Science and Information Technology in Israel

science-and-information

Israel has become an economic powerhouse with a strong position in information technology and ranks 21 in the world in terms of per capita GDP; A recently published United Nations report ranked it 23rd for the standard of living, based on per capita income, life expectancy, and educational ideals. Much of the progress is due […]

Israeli water technology helps fight the Coronavirus

water

The whole world suffers from water shortage due to the time lag that elapses from order time to delivery time. The increase in demand is the result of population growth, urbanization processes, and economic growth. Delivery or supply is limited by climate change, low infrastructure development, and inappropriate business models in the water infrastructure sector. […]

Israel Startup Ecosystem Review in 2020

Ecosystem Review

The strength of the Israeli ecosystem is apparent, especially when considering its success compared to the size of its population Ranking 3rd globally, Israel has advanced one spot since 2019. Israeli’s central hub continues to be the vibrant Tel Aviv, which remains high in the global city rankings while losing one place to Beijing. However, […]