CTech's Wednesday Roundup of Israeli Tech News
Israel’s tech sector grows, but demand still outstrips supply, says report; Biomed company CartiHeal considers a Nasdaq IPO
Israel’s tech sector grows, but demand still outstrips supply, says report. A Wednesday report published by the Israel Innovation Authority and Start-Up Nation Central sheds light on the human resources situation of the Israeli tech industry. Read more
Biomed company CartiHeal considers a Nasdaq IPO. The company is looking to raise between $60 million and $80 million according to a valuation of $300 million to $400 million and has already hired Credit Suisse and Jefferies for this purpose, according to two people familiar with the matter. Read more
Coronavirus could empty the coffers of the Israeli health system. The Israeli Ministry of Health has already been given $16.34 million for virus-related preparations, but that money is coming out of its budget for the rest of 2020. Read more
SMS trolling targeting Likud supporters was not a hack. Starting last week, supporters of Israel’s ruling party Likud have been bombarded with misleading and often taunting SMS messages. Read more
Despite limited flights to Southeast Asia, Israeli airlines feel coronavirus' impact. According to the Israel Airports Authority, only about four flights depart Ben Gurion Airport to the far east each day, out of 500-600 daily flights. Read more
Sports media company Minute Media raises $40 million. Minute Media is the publisher behind several sports news outlets and is backed by Dawn Capital, Goldman Sachs, and Battery Ventures. Read more
Bavarian ministry of economic affairs to market Israeli startups to German industry. As part of the agreement, Start-Up Nation Central and the Bavarian ministry will introduce Israeli startups and tech companies to German manufacturers with headquarters in the state of Bavaria, including Siemens, BMW, and Audi, to enable German manufactures and Israeli innovators to carry out pilot projects and collaborations. Read more
Ormat CEO to step down. Isaac Angel will step down from his position as CEO of the Tel Aviv and NYSE-listed geothermal energy company and will be replaced by the company’s chief financial officer Doron Blachar. Read more
