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CTech Daily Roundup: Cancellation of Birthright-Taglit, Masa heritage trips to cost Israeli economy $200 million
Cancellation of Birthright-Taglit, Masa heritage trips to cost Israeli economy $200 million. 60,000 Jewish youths from around the world were scheduled to travel to Israel during spring and summer to attend heritage trips that are now being called off due to Covid-19. Israel’s Ministry of Interior approved special visas to people attending Masa’s long term programs but they will not be exempt from the 14-day mandatory quarantine. Read more
Instead of funding rounds, startups face harsh reality of debts and loans thanks to Covid-19. Since the coronavirus pandemic started, Israeli startups have taken out over $140 million in bank loans, mostly to avoid down rounds and increase their funding runway. Read more
Covid-19 flooded the tech sector with talent. The coronavirus crisis fundamentally changed the tech industry pushing some companies to make a strategic decision to recruit employees simply because they now can. Read more
Insight Partners to acquire senior Israeli venture fund Gemini V for $500 million. Gemini is one of Israel’s most senior venture firms, active since 1993. The firm has raised five funds to date, the last one raised $150 million in 2008. Read more
Green Light: EU grants Panaxia certification for exporting medical cannabis. The EU-GMP certification granted to Panaxia is wider in scope than any previously granted to Israeli companies active in the European market. Read more
Leviev divorce saga takes another ugly turn. Billionaire businessman Lev Leviev’s son Shalom was accused of physical, emotional, and sexual violence by his ex-wife during court proceedings. Read more
DiplomaTech | Italians want Israeli tech’s help to catch up after Covid-19 catastrophe, says trade attaché to Milan. Even Silicon Valley takes a back seat to Israeli tech's reputation in Italy. Read more
MyHeritage unveils photo enhancer to bring old blurry photos into sharp focus. The new feature is available on the company’s website and free mobile app for iOS and Android. Read more
Taiwanese tech firm i2i to invest up to $70 million in Israeli startups through new program. Thus far, 25 Israeli startups have been selected for the program, eight of which have already signed cooperation agreements to pilot their technologies and products. Read more
Interview | Israel’s ambassador to Wellington describes life in corona-free and jubilant New Zealand. “People are simply happy. After
75 days of being closed in their homes, now is the time to let loose,” says Ambassador Itzhak Gerberg.Read more
