CTech’s Weekly Roundup of Israeli Tech News

After raising funds from BP, quick-charging battery startup aims to open U.S. factory, says CEO. Mobileye’s self-driving car runs a red light in Jerusalem

CTech 11:3725.05.18
After raising funds from BP, quick-charging battery startup aims to open U.S. factory, says CEO. On Tuesday, StoreDot announced a $20 million investment from BP Ventures, the venture capital arm of multinational oil and gas company BP. Now the company is seeking to raise $400 million to fund the set up of a U.S. manufacturing facility for its automotive quick-charging batteries, CEO and Co-Founder Doron Myersdorf said. Read more


Mobileye’s self-driving car runs a red light in Jerusalem. The lapse was caused due to broadcasting equipment placed on the car’s roof which “disrupted the traffic light’s transmission,” according to Mobileye. Read more


Mobileye autonoums car. Photo: Mobileye Mobileye autonoums car. Photo: Mobileye


Rise in number of Israeli startups slowing down. 396 Israeli startups shut down in 2016, the highest number in six years, according to a new report. 625 startups were founded in Israel in 2016, the lowest number of new startups recorded since 2011. Read more


Israeli company investigated by Robert Mueller’s team shuts down. On Saturday, the New York Times reported that an Israeli company is being investigated in relation to alleged illegal manipulation of the 2016 U.S. presidential elections. Read more


There are no winners in trade wars, said Primavera Capital Group’s founder and chairman Fred Hu. Planned tariffs for Chinese imports will hurt American consumers, the founder and chairman of Primavera Capital Group said. Mr. Hu led Goldman Sachs to become one of the earliest investors in Chinese ecommerce behemoth Alibaba. In a May visit to Israel, Mr. Hu offered his observations regarding regulation on outgoing Chinese investments, on a potential trade war between the U.S. and China, and on the involvement of Primavera and Alibaba in the Israeli technology industry. Read more


At a Beijing accelerator, Israeli startups learn to adapt to China. Boosted by governmental efforts on both sides, economic ties between China and the Israeli tech ecosystem have been strengthening in recent years. Names like Tencent and Baidu, once obscure references to almost all Israelis, are now familiar names among Israeli techies. As more Israeli companies are looking to break into the Chinese market, opening local branches and inking local partnerships, some run into language, legal and cultural barriers. Read more


At Swiss pharma company, women’s health gets personal. Ferring Pharmaceuticals recently launched a personalized fertility treatment that supports its hormone therapy with a dosage calculation app. A growing awareness to differences in the way different patients react to the same treatment leads pharma companies to put more resources into researching personalized drugs, Ferring's executive vice president and chief science officer Per Falk said. Read more


Volkswagen opens Tel Aviv innovation campus to scout for new technologies. The campus will offer mentoring and consulting services to local startups. Read more


EA acquires Israeli cloud gaming assets, personnel of GameFly. Electronic Arts acquired the cloud gaming technology and associated personnel of an Israeli subsidiary of GameFly. In 2015, GameFly acquired Israel-based cloud gaming company Playcast Media Systems. Read more


Following Gaza fence events, Indonesia cancels visas issued to Israelis. Israel has no formal diplomatic relations with Indonesia, but the two countries maintain economic ties, and Israelis can visit the country using temporary tourist visas and business visas. Israel is attempting to reverse the decision. Read more

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