Tech Nation

Israeli Internet goes fast; Dunn Medical Devices draws more funds; Indians make fun of app Yo.

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Israel boasts fourth top average speed on Internet

The top Web speed enjoyed by the average Israeli Internet user is the fourth highest in the world, cloud computing firm Akamai said Thursday in a report on the state of the Internet. Globally, the average top speed during the first quarter of this year was 21.2 megabits per second, while in Israel it was 57.6 megabits. Top speed is a measure of system capacity and does not represent average speed, for which Israel came in 19th place. The country with the highest top speed in the Akamai survey was South Korea at 68.5 megabits; Iran was at the bottom at 6 megabits. In Israel, 85% of Internet users have broadband connections of at least 4 megabits per second compared with the global average of 56%. (Agencies)

Dune Medical raises $21 million

Dune Medical Devices wrapped up a $21 million financing round last week, selling shares to new investors including the Canepa Advanced Health Care Fund and Kraft Group. The company said it raised the money following the success in the United States of its lead product, MarginProbe, which gives surgeons a look at cancerous tissue during surgery. The funding, which will be provided in two stages, will be used to help market the product in the United States. The lead investor in Dune Medical, which was founded in 2002 by Dan Hashimony, is Apax Partners. Although most of Dune Medical’s business is in the United States, its development operations are in Israel. MarginProbe, designed to reduce the number of cases in which repeat breast cancer surgery is required to fully remove tumors, was approved for use in the United States last year. (Amir Teig)

Israeli app Yo spawns Indian parodies

Following the wild popularity of Yo, an app launched by Israeli Or Arbel that simply sends the word “Yo” as a message, Indian developers have been at work on parodies. According to the Quartz India website, one parody, developed by Wow Labz, is called Aiyo, an Indian expression that the site says loosely translates as “bummer.” It’s also an expression of pain in China. “We cannot understand why investors are throwing money at something as absurd as Yo,” says Rohith Veerajappa, 28-year-old co-founder of Wow Labz, a Web and mobile development firm. “Our startups in India struggle so much to raise money.” Yo’s inventor Arbel says the expression “Yo” can mean a range of things, depending on the context. He has reportedly attracted more than $1 million from investors. Wow Labz’s app page reads: “We need a million $ funding too.” (Haaretz)