CTech's Tuesday Roundup of Israeli Tech News

Israeli government to authorize $8 billion missile defense plan, report says. Metabolism hacking company Lumen scores big with diet planning device

Israeli government to authorize $8 billion missile defense plan, report says. The Israeli cabinet is set to authorize on Sunday an $8 billion (NIS 30 billion) armaments plan intended to bolster Israeli defenses in the face of the growing aerial threats in the region, Israeli daily Yedioth Ahronoth reported Tuesday. The report cited an unnamed government official who called the plan "unprecedented" in Israeli history. Read more

 

Metabolism hacking company Lumen scores big with diet planning device. Lumen, an Israel-based company offering a metabolism tracking and nutrition device, has blown through its crowdfunding target on Indiegogo within four hours of listing last week. By now the company has raised almost $580,000 from 2686 backers, 1159% of its goal, and the campaign still has a month to go. The company sells a single respiratory device for $199 as part of the campaign, promising to start shipping the device to backers in February 2019, with manufacturing set to start in November. Read more

 

Israeli parliament. Photo: Amit Shabi

 

Gastro treatment company RedHill wants to raise $117 on Nasdaq. The Tel Aviv-headquartered company announced on Monday that Nasdaq approved its listing on its second tier, the Global Market. RedHill's ADSs were previously listed on Nasdaq Capital Market. Read more

 

Israel-based AllCloud acquires U.S.-based cloud services company Figur8. The acquisition is part of AllCloud’s strategy to enter into the North American market. AllCloud also announced it has raised $7 in a convertible loan agreement. Read more

 

Third Chinese city to open economic mission in Israel. Xiamen joins Beijing and Dongguan as it prepares to open a technology scouting office in Tel Aviv. Read more 

 

News Briefs

 

Medical device company Medigus raises $10 million in public offering. Read more

 

Cybersecurity company Siemplify raises $14 million. Read more

 

$3.2 billion in investments poured into Israeli tech companies in H1 2018, report says. Read more

 

Kape Technologies buys cybersecurity company Intego. Read more

 

Israeli nanomaterials company Dotz raises $1.8 in Australian private placement. Read more

 

IronSource launches in-ad data platform. Read more