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Tel Aviv is a deep-tech powerhouse. A combination of strong technical education (backed by local entrepreneurs’ experience in the Israeli Defense Forces), high levels of venture capital and a support network of serial entrepreneurs has established the city’s reputation for building innovative companies. Its strengths in cybersecurity, artificial intelligence and computer vision have put Israeli startups high on the shopping lists of Silicon Valley’s tech giants in recent years.
But Tel Aviv is beginning to shake off its reputation as Europe’s exit capital. “The main change is the transformation from startup nation to scale-up nation,” says Eyal Gura, a serial angel investor and co-founder of Zebra Medical Vision (which made this list in 2015). “We’re seeing a new type of bold VCs and entrepreneurs trying to scale companies to levels that haven’t been seen before.” The city’s vibrant, beachside flavour, diverse culture and strong international links continue to attract first-time founders. “It’s hard to find places with such strong support for new startups,” adds Gura.
Missbeez
Beauty therapists were making home visits long before the gig economy got on its bike. Missbeez, however, wants to bring it up to date. Founded by Maya Gura and Gil Bouhnick in 2015, its app lets anyone book beauty treatments to their home or work through its app; Missbeez handles the therapists’ schedules, route planning and payment. “Our mission is to create work opportunities for thousands of self-employed professionals,” says Gura, who is also the startup’s CEO. Since launching in 2015, it has already expanded to the UK and Madrid, with plans to open a Barcelona office later this year. missbeez.com
Healthy.io
Yonatan Adiri’s diagnostics startup can turn your iPhone into a medical urinalysis device. Users of its Dip.io app receive an at-home kit: after urinating on a test strip, take a 60-second scan – guided by a chatbot – with the phone’s camera, then Healthy.io uses computer-vision techniques to detect early signs of kidney disease, bladder cancer and pregnancy-related complications such as pre-eclampsia risk. After a trial with the NHS, the product is certified for sale in the EU and plans to add further capabilities soon. healthy.io
CommonSense Robotics
Retail is engaged in a delivery-time arms race – and CommonSense Robotics wants to be the secret weapon. Its plan is to build “micro-fulfillment centres” – small-scale, Amazon-type warehouses staffed by autonomous sorting robots, which sort the order before it’s passed on to humans for packing and delivery. Founded in 2015 by Eyal Goren, Ori Avraham, Shay Cohen and Elram Goren, it has raised $26 million (£19.5m) in funding by backers including Eric Schmidt’s Innovation Ventures and Aleph. cs-robotics.com
LawGeex
As a lawyer, Noory Bechor became frustrated with the amount of time wasted reviewing legal documents. “Once you've seen hundreds of examples of a specific contract type, the concepts keep repeating themselves,” he says. “I thought, ‘If this is so repetitive, it can be automated.’” So, with Ilan Admon, he founded LawGeex in 2014. Its AI software is able to review legal contracts, flagging up problems or unusual language – with, it claims, 94 per cent accuracy – in seconds. “Think of it as functioning the same way an autopilot works with a pilot: we take care of the small repetitive tasks, allowing them to focus on the strategic ones.” It’s already landed the likes of Deloitte and Sears as clients. lawgeex.com
Bancor
One of the biggest cryptocurrency startups to emerge from 2017’s initial coin offering (ICO) rush, Bancor is an open protocol for the creation of Smart Tokens, which allow coins to be exchanged without matching buyers and sellers. Founded by Galia Benartzi, Guy Ben-Artzi, Yudi Levi and Eyal Hertzog, it raised $153 million (in Ether, of course) in just three hours for its own ICO, and in April launched its first product: a crypto wallet that offers in-wallet conversion between more than 75 cryptocurrencies. bancor.network
WHERE TO WORK: Ayeka, the city’s trendiest new co-working space has 1,800m2 of open-plan offices, meeting rooms, quiet spaces, and social areas. Also on site: buzzing amenities such as a screening room, health bar, gym and outdoor pool.
WHERE TO EAT: A local favourite, Abraxas North is memorable for its plateless serveware (dishes are served on paper, shared by the whole table) and outstanding food. It gets busy: go early, and if you can, sit at the bar to see the kitchen at work.
Otonomo
Nowhere is the cliché “data is the new oil” more true than in the car industry. With telematics disrupting models and autonomous vehicles approaching reality, Avner Cohen and Ben Volkow saw an opportunity. Otonomo is a marketplace for connected-car data – letting motor companies organise and sell that data to third parties, in sectors from insurance to retail, even city-planning. It counts nine manufacturers – including Mercedes-Benz parent company Daimler – as clients, and has raised $43 million from backers including former General Motors vice-chairman Steve Girsky. otonomo.io
Zeek
Zeek lets you buy unwanted gift cards for major brands at a discount. Founded by Daniel Zelkind, Itay Erel and Ziv Isaiah in 2013 (Uri Levine, the co-founder of Waze, is also involved), the site lets its customers sell gift cards for cash, and buy store credit cheaply from major brands including Foot Locker, Topshop and Debenhams. Zeek claims it sold a million gift cards in 2017, but it has bigger plans: its next step is an ICO for the launch of Zeex, a cryptocurrency that will let users buy from major brands using cryptocurrency without using an exchange and paying fees. zeek.me
Lightricks
The most popular paid Apple app in 2017? Lightricks’ Facetune, the automated airbrushing app beloved by Instagrammers. Founded in 2013 by a group of computer-graphics PhD students, Lightricks (which made this list in 2016) has expanded quickly, launching a suite of new apps: a follow-up to its hit Enlight photography app, video editor Videoleap and Quickshot, which it hopes will replace your native camera app by making automatic edits using AI. Its big bet: replacing a one-off app purchase with a subscription model. lightricks.com
Lemonade
Lemonade wants to make insurance fairer. Founded by Shai Wininger and Daniel Schreiber in 2015, the New York-based, Tel Aviv-engineered company provides home insurance based on a flat monthly fee. Its algorithms help set coverage prices and process claims, which it says makes it cheaper than the incumbents. It also asks its customers to pick a charity to receive a share of premiums – thus convincing customers into making fewer false claims. It has raised $180 million from backers including SoftBank, Aleph and Seqioa. lemonade.com
Vayyar Imaging
Vayyar can see through walls – and bodies. Its sensors use a combination of radio frequencies to build a 3D picture of a space, or monitor the makeup of materials. Founded by Miri Ratner, Raviv Melamed and Naftali Chayat in 2011 to help detect breast cancer, it has pivoted to a range of uses, from a DIY sensor to help visualise pipes in walls, to a camera-free monitor for elderly care. It has raised $79 million, with plans to use its technology in everything from retail to robotics. vayyar.com
This article was originally published by WIRED UK
