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27 May 2018 - 14 Sivan 5778 - י"ד סיון ה' אלפים תשע"ח
JTA NEWS :
Business
South Korean business lobby group and Israel’s VC firm Yozma sign MOU Print E-mail

The Federation of Korean Industries (FKI), South Korea’s major business lobby group, signed an initial pact in April with Israeli venture capital firm Yozma Group for a partnership to support venture startups in Korea.

FKI Chairman Huh Changsoo and Yozma Group Chairman Yigal Erlich signed a Memorandum of Understanding (MOU) to promote exchanges between venture firms of the two countries in the short term and to support Korean venture startups with Yozma’s experience and know-how in new ventures, the FKI said in a statement.

Founded in 1993, the Tel Aviv-headquartered group is known as a trailblazer in the Israeli venture capital sector. It has invested in more than 20 companies that went public on the tech-heavy NASDAQ.

(Issue May 2018)

 
India and Israel sign MOU on UAV development E-mail

India’s Mahindra Defense and Israeli drone developer Aeronautics Ltd signed a Memorandum of Understanding (MoU) on 11 April to partner in the provision of naval shipborne unmanned aerial vehicles (UAVs) to the Indian Navy.

Aeronautics Ltd and Mahindra Defense announced that they will offer a UAV system that can be launched and recovered from Indian warships on the Orbiter series 4 version, Globes reported.

Based in Yavne, south of Tel Aviv, Aeronautics Ltd provides integrated turnkey solutions based on unmanned systems platforms, payloads and communications for defence and civil applications.

Aeronautics is the OEM of the Orbiter series of UAVs, which has been sold in many countries globally. The Aeronautics Orbiter 4 is an advanced multi-mission platform with an ability to carry and operate two different payloads simultaneously. With an open architecture, the Orbiter 4 can be specially adjusted to the needs of each mission.

The UAV will carry stateof-the-art sensor payloads as required by Indian Navy and will be capable of being launched and recovered from small warships that do not have a helicopter deck, including small warships that are around 50 metres long. This UAV will be a force multiplier for the Indian Navy.

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Enlivex receives more funding from South Korean investment fund KIP E-mail

Israel-based Enlivex Therapeutics Ltd, a clinical-stage immunotherapy company that is developing a treatment for Graft-versus-Host disease (GvHD) resulting from bonemarrow transplants, signed a Memorandum of Understanding (MoU) in April for a US$10 million investment led by South Korean investment fund KIP.

KIP led an US$8 million financing round in Enlivex in September 2017. According to the MoU, KIP will invest US$2 million, Hadasit Bio-Holdings will invest US$1.2 million, and the two concerns will help recruit additional investors for Enlivex.

Enlivex’s product has not yet undergone Phase III clinical trials. In a statement released during the company’s September 2017 financing round, the company said it expected that the product would enter such trials within a year.

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Singapore VC firm invests in Israeli foodtech company E-mail

Singapore-based venture capital firm Sirius Venture Capital has backed an US$8-million Series A funding round in Israeli foodtech firm Genie Enterprise, which has invented an automated, computer controlled cooking device.

The funds will provide Genie Enterprise with additional resources to bolster its infrastructure in Israel, and will boost its R&D activities and enable it to expand to new geographies. “This investment will serve as a gateway for us to access Sirius’ well-established network in the broader Asian market, as we navigate new business cultures and culinary preferences within the region,” said Doran Marco, Founder and Chief Technology Officer of Genie Enterprise.

The company’s computer controlled cooking device, called Genie, is capable of producing affordable, tasty and preservative-free dishes from pre-sealed pods within minutes, the startup said. The device uses proprietary technology and algorithms to cook freeze-dried and dry ingredients in a patented cooking system. Ingredients of restaurant-quality meals are contained in pre-sealed pods with unique barcodes.

Genie is currently available in Israel and Australia. “With this round of financing, Sirius is the only venture capital firm in Asia to join a group of co-investors in reinventing traditional food preparation practices in the home and cooking sector using smart kitchen systems,” said Eugene Wong, Founder and Managing Director at Sirius.

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IAI to develop electric-powered aircraft E-mail

Israel Aerospace Industries Ltd announced on 20 March that it will be developing electrically powered aircraft. The company says the new aircraft will provide green energy solutions for environmental benefits, will have longer ranges and endurance, and will offer significant savings on fuel costs.

The demand for electrically powered aircraft is projected to reach hundreds of aircraft per year within the next decade. Increased use of electric propulsion should save hundreds of millions of dollars in fuel and maintenance costs. Environmental benefits include a significant reduction in air pollution and noise levels. While today’s electrical power is limited mainly to very light aircraft, IAI estimates that as the technology continues to mature, the market will diversify to short-range passenger airplanes and other configurations.

IAI has many years of experience in electric power systems for unmanned aerial vehicles, including the Panther and Mini Panther UAVs, vertical-takeoffand-landing Unmanned Airborne Vehicles, and the Bird Eye 650 reconnaissance vehicle.

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