Two Israeli startups were announced winners on Wednesday of the Extreme Tech Challenge 2020 (XTC). It is the world’s largest startup contest that featured more than 2,400 companies from 87 countries.
ReWire Ltd. won the Fintech category. It was founded in 2015 by Adi Ben Dayan, Guy Kashtan, Or Benoz, and Saar Yahalom and develops global digital banking solutions for internationals who live their lives in more than one country. It is primarily used by migrant workers and helps make financial services more accessible while encouraging financially independent behavior. According to Crunchbase, ReWire has raised $12 million from a series A round.
TytoCare Ltd. won the Covid-19 Innovation Award for its complete telehealth solution that can deliver easy and affordable telehealth visits. The mobile platform allows anyone to perform self-examinations and receive a remote diagnosis. Founded in 2012 by Dedi Gilad and Ofer Tzadik, it has raised $106.7 million in an undisclosed number of rounds. During the coronavirus (Covid-19) pandemic, hospitals and healthcare providers have expanded their use of Tytocare.
"We are honored that the judges recognized the potential of our product and the impact it has on the fight against Covid-19," said Dedi Gilad, CEO of TytoCare.
“We are extremely proud of the extensive participation of Israeli companies in the final stages of one of the prominent global innovation competitions,” said Rutie Adar, Head of Samsung Strategy and Innovation Center in Israel. “It serves as further evidence to the leadership of the startup nation and the main reason that Samsung Electronics continually expands its innovation and investment operations in Israel.”
The final round consisted of 52 companies, of which six were Israeli. Other companies reaching the final stages included Amai Proteins, Beewise, CropX Technologies, and Neteera. The finalists pitched solutions in seven categories. The winners included Genecis for Cleantech and Energy; Hala Systems for Enabling Technologies; MicroGen BioTech for Agriculture, Food and Water; Saathi for Healthcare; SPRK.Global for Transportation and Smart Cities, and MONi.Gigital for Education. MicroGen Biotech received the Female Founder award, the second inaugural award alongside the response to Covid-19.
The XTC is a non-profit organization co-founded by Young Sohn, President and Chief Strategy Officer of Samsung Electronics and Chairman of the Board of connected car technology company Harman. The competition is supported by more than 35 leading venture capital firms, universities, institutions, and corporations like Microsoft, Zoom, Ford, and Intel.
The judges panel consisted of internet legend and Yahoo! co-founder Jerry Yang; Young Sohn; Tim Draper, founding partner of Draper Associates; Philippe Botteri, a partner at Accel; Rafaèle Tordjman, the founder of Jeito Capital; and Bill Tai, Partner Emeritus of Charles River Ventures, and Co-Founder of XTC.
Awards were presented by leaders from multiple industries, including Publicis Chairman Maurice Lévy and Tamara Steffens, Managing Director of Microsoft M12.
"We are excited to announce that, beginning today, startups can apply for XTC 2021,” said Sohn. “We look forward to hosting next year’s XTC Finals at the Viva Technology conference in Paris, France and ushering in the next generation of world-changing startups.”