CTech's Thursday Roundup of Israeli Tech News

Canada’s cannabis engine struggles to climb up regulation hill. After launching with much fanfare, the Canadian cannabis industry has found itself crumbling under mounting debt as a result of much red tape. The industry is also thirsty for skilled workers, with a recently opened college program attempting to meet that need. Read more

WeWork continues downward spiral with $1.25 billion in losses for 3Q 2019. The New York Times and Bloomberg first reported the company has more than doubled its losses year-over-year. Read more

Israeli investment firm vintage secures $133 million in commitments for new co-investment fund. Vintage intends to use the fund to invest in Israeli and European companies. Read more

Following WeWork, SoftBank-backed Lemonade shelves planned IPO, report Says. Calcalist first reported the online insurance company’s plans to go public in June. Read more

Google and Amazon are banks that refuse to identify as such, says Bank Leumi exec. Eyal Barzilai, head of big data at Israel's Leumi Bank spoke at earlier this week at Calcalist’s When Technology Meets Emotion conference held Monday in Tel Aviv. Read more

Israel innovation authority to encourage institutional investments in tech with $4.3 million program. Israeli institutional investors will be eligible for a grant of up to $1 million over the span of five years to establish a team of investors specializing in Israeli tech companies. Read more

 

Brief | Cybersecurity startup Pcysys raises $10 million. Founded in 2015, Pcysys develops cybersecurity software that enables enterprises to implement continuous cybersecurity tests into their network in order to detect and warn about system vulnerabilities. Read more

 

Data science Startup Cnvrg.io announces $8 million in funding. Cnvrg.io develops a service for managing, speeding up, and scaling data science workflows, enabling clients to quickly develop, test, deploy, and refine machine learning models. Read more

Google backs IoT security startup Armis. Armis provides information security software for enterprise IoT systems, analyzing and classifying devices and their behavior to identify risks and protect information and systems. Read more

Fiverr raises 2019 revenue guidance on third quarter reports. The company published its earning reports Wednesday, announcing revenues that surpassed market expectations and losses lower than the analyst consensus. Read more