The unique model of this publish was revealed on Linkedin.
The phrase “Firgun” (pronounced ‘feer-goon’) is an off-the-cuff fashionable Hebrew time period and idea in Israeli tradition (initially Yiddish), which describes real, unselfish delight or pleasure within the accomplishment of the opposite individual. It’s the alternative of “schadenfreude”. Firgun is all about genuinely feeling and expressing happiness, pleasure, or admiration for another person’s accomplishments, success, or well-being. Extra about Firgun and why it issues on VC Cafe: https://lnkd.in/dg2a86p
The founder and CEO of Stripe, Partick Collison, posted an image on X with the innocuous assertion “Nice to be again in Tel Aviv. I missed this run”. That’s nice typically, and makes me surprise what Israeli startup he’s about to purchase, however that was sufficient for the trolls (together with Paul Biggar) to threaten to boycott Stripe for his ‘help of Israel’.
On a extra constructive observe, yesterday marked the American vacation of Thanksgiving, my favorite US vacation and an important feast, but additionally a superb reminder to be grateful (I wrote a brief publish about it right here). I’m hopeful that the ceasefire in Lebanon agreed on this week will final, and that it marks hopefully the start of the top of this struggle. Always remember that there are nonetheless 101 Israelis held hos**ge in G**a. Together with girls and Youngsters. It’s not identified what number of are nonetheless alive. We should #BRINGTHEMHOME
Throughout November, Israeli startups raised over $750M and we noticed the creation of a brand new Unicorn (extra on Eon under). There have been additionally 7 exits reported, exceeding $1 billion. This might not be as spectacular throughout ‘regular occasions’ in Israel, however the truth that we’re seeing such stage of exercise in the course of a struggle (with most airways halting flights to Israel), this isn’t trivial. That is the very best quantity of fundraising reported for November prior to now 3 years (!)
Within the wider tech world, Bitcoin practically crossed the $100K mark, Anthropic raised one other $4 billion(!) led by Amazon, Elon Musk introduced that xAI will launch a recreation studio, Amazon developed a brand new AI mannequin codenamed Olympus, specializing in superior video and picture processing capabilities and rumoured to launch subsequent week, ElevenLabs launched GenFM, which permits the creation of podcasts from PDFs, articles or ebooks within the click on of a button, NVIDIA launched the Fugatto AI music generator, Luma AI releases Photon picture creator, claiming quickest technology speeds, Google launched GenChess, a recreation with customisable items utilizing GenAI, Alibaba Group challenges ChatGPT’s o1 with open-source reasoning mannequin, Ai2 launches a totally open-source LLaMa competitor, and OpenAI suspended entry to its video creation mannequin Sora, after the mannequin was leaked.
In the present day is ‘Black Friday’ – what bargains are you searching for?
QUOTE OF THE WEEK
“True heroism just isn’t about being fearless, however about being dedicated to one thing larger than your self regardless of your fears.” – Bryan Cranston
NEW FUNDING ROUNDS
- Congratulations Ofir Ehrlich and group Eon.io on securing a $70M collection C bringing the full funding to $200M in a single yr, and the brand new unicorn standing (at a $1.4 billion valuation), to allow automated administration of cloud backups!
- Nicely finished Omri Kohl and group Pyramid Analytics in your $50M collection E extension on your subsequent gen analytics answer for the enterprise!
- Approach to go Maor Sason and group Appcharge in your $26M collection A to assist gaming firms preserve extra of their in-app-purchases income!
- Nice stuff Dean Leitersdorf and group Decart in your $25M collection A (weeks after a $21M seed) at a $500M valuation, to pioneer scalable, value environment friendly generative AI coaching!
- Mazel tov Ori Soen and group Montara in your $5.4M seed spherical to handle the information improvement lifecycle in a single place!
- Good job Ohad Tarcic and group caVos Biotherapeutics on the $3.3M current funding spherical to uncover the genetic base of extraordinary most cancers resistance!
EXITS
No exits reported this week.
LINKS FOR YOUR BROWSER
ISRAEL
- Israeli resilience tech – a brand new report by Viola Ventures
- Israel to introduce self-driving buses on public roads
- Israeli entrepreneurs create new airline to facilitate higher connectivity with New York at an reasonably priced value
GLOBAL
- Discovering alpha – why the very best startups usually buck the developments (by me on VC Cafe)
- State of European tech – annual report by Atomico
- AI can now create a duplicate of your persona – A two-hour interview is sufficient to precisely seize your values and preferences, in line with new analysis from Stanford and Google DeepMind – report by MIT Know-how Overview
MEDIA OF THE WEEK
Making lemonade from lemons. How the present struggle put Israeli Defence tech on the map (report by Viola)
Patrick’s tame publish on Israel.
After which the trolls got here after him…
Probably the most profitable startups buck the developments (extra on my VC Cafe publish)
The AI knowledge heart worth chain (by CB Insights)
Cursor is an AI coding platform. It grew revenues by 6400% from $1M in November 2023 to to $65M at this time in only one yr.
AI is already making an impression on jobs (automating buyer help for instance) and price discount. One instance of this was made clear this week by Klarna who went ‘all in’ on integrating AI into its workflows.
Media tech is changing into sizzling once more…
make an impression in a brand new job in your first 90 days (supply)
European Member of Parliament Sarah Knafo gave a strong speech on the rise of Antisemitism in France
That’s all for this week, thanks for studying. There’s a lot to rejoice in our “small” group. Carry on creating!
I am a former basic companion at google ventures, head of Google for Entrepreneurs in Europe and founding head of Campus London, Google’s first bodily hub for startups.
I am additionally the founding father of Techbikers, a non-profit bringing collectively the startup ecosystem on biking challenges in help of Room to Learn. Since inception in 2012 we have constructed 11 faculties and 50 libraries within the growing world.
