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Weekly FIRGUN Newsletter – September 13 2024
- Israeli culture has a modern term, "Firgun," which describes genuine, unselfish delight in the accomplishments of others, which is the opposite of schadenfreude. The Israeli startup ecosystem raised billions of dollars in funding so far this year and demonstrated its strength, even during wartime. VC investments in AI startup have reached $64.1 billion this year, which is around 30% of total VC dollars invested. OpenAI recently released 01, a new series of AI models capable of reasoning with impressive results. Apple launched its new iPhone 16, which has new AI features. Hugging Face launched its newest high-quality annotated video dataset with a creative commons license, FineVideo. Adobe announces that they are launching an AI-powered tool that would allow users to create and edit videos seamlessly using AI prompts.
- The world of tech AI was filled with developments this week as companies continue to innovate in this space.
- Israeli startups raised $7.8 billion in funding so far in 2024, with mergers and acquisitions reaching $9.6 billion this year.
- Israeli exits so far in 2024 reached $9.6 billion despite ongoing war conditions.
- Quantum Source has raised $50 million to advance photonic quantum computers, while Zafran Security has secured a $40M series B for its risk and mitigation platform.
- Darris, an Israeli med-tech start-up, raised $15M for its AI-powered compliance and risk management platform.
- Odigos raised $13M in seed extension to automate distributed data tracing to detect performance issues more easily.
- Discure Technologies raised $11M in series A funding for degenerative disc disease treatment.
- Element Security secured a $5M seed round to help organisations manage their external attack surface.
- Edge Medical Ventures has launched a $70M med-tech fund and venture studio focused on early stage Israeli startups.
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