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CTech’s Daily Israeli Tech News Roundup

CTech’s Daily Israeli Tech News Roundup

Teva to fire half of its Israeli workforce, relocate Israel-based manufacturing operations. The European Investment Fund renews its backing for Israeli tech. Automotive cybersecurity startup Upstream raises $9 Million.

CTech | 17:27  13.12.2017

Teva to fire half of its Israeli workforce, relocate Israel-based manufacturing operations. The company intends to implement the plan in the next few months, in the hope of presenting significant cost cuts in its earnings report for the first quarter of 2018. Read more

Amidst layoff buzz, former chairman Yitzhak Peterburg leaves Teva. Mr. Peterburg was the troubled drugmaker's interim CEO between February and November 1, when Kåre Schultz took the helm. Read more

Sensor developer Vayyar Imaging raises $45 million. The company's 3D imaging sensors can penetrate through solid objects and are used in various industries, from medical to automotive and construction. Read more

 

Quanta will produce AR headsets with technology by Israeli optics company Lumus. The companies announced a licensing and production deal earlier this month. The Quanta-built Lumus augmented reality headsets are expected to hit the market by 2019. Read more

Upstream Security raises $9 Million. The Israeli startup, founded earlier this year, develops cloud-based cybersecurity technologies for connected and autonomous cars. It raised $11 million in investment so far. Read more

The European Investment Fund renews its backing for Israeli tech. The European Union's small business finance agency has agreed to guarantee up to $200 million in loans offered by Bank Leumi to Israeli tech companies. Read more

Roomba for solar panels? Eccopia, an Israel-based startup developing robots that clean solar panels, has raised $13 million in equity funding. Researchers from Duke University recently found that cleaning the dust off dirty solar panels can increase efficiency by 50%. Read more

Bank Hapoalim Promotes Haim Pinto to CTO. Mr. Pinto joined Israel’s largest bank last year in a business development role. He previously worked for Morgan Stanley & Co. in New York. Read more

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