TechNation / FairFly Raises $2 Million for Airfare-checking App

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Ben-Gurion Airport. FairFly has raised $2 million for its airfare-checking app.Credit: Nir Keidar

FairFly raises $2 million for airfare-checking app

FairFly, whose online platform notifies travelers of cheaper airfares after they’ve bought their tickets, said Sunday it had raised $2 million in a first round of funding from the U.S. venture investor Blumberg Capital. Currently only available in Hebrew, the company said it would use the proceeds to expand and offer its services in overseas markets. The company was launched with several hundred thousands of dollars of seed capital provided by Uri Levine, a cofounder of the navigation app Waze. The FairFly app gives fliers the option of returning their ticket if they find a fare that is cheap enough to cover the cancellation fees. “Ticket prices on average fall about 70% after a ticket has been bought, but most people don’t check prices after they fly and throw away hundreds of dollars,” said CEO Aviel Siman-Tov, who founded the startup with Gili Lichtman and Ami Goldenberg, all graduates of IDC’s Zell Entrepreneurship Program.

enSilo raises $10m three months after seed round

enSilo, a cyber-security startup formed just a year ago, has raised a second $10 million of capital just three months after a seed round of several million dollars. The company’s technology guards against the theft of sensitive information from within organizations. After announcing the latest round, it said last week it plans to double its staff of 20 by the end of the year –15 in Israel alone by the end of 2015 – and double it again next year as it expands its global business, with a focus on North America and opens a West Coast office in the United States. The latest funding round was led by Lightspeed Venture Partners and joined by Carmel Ventures, which was a seed funder.

Israel signs water pact with World Bank

Israel has signed an agreement with the World Bank to share its water expertise and industry best practices with developing countries and World Bank Group staff, the World Bank said last week. The agreement aims to show developing economies how Israel developed innovative approaches to a chronic shortage of water. “[Israel’s] innovative practices are globally recognized – both from technological and institutional perspectives – and will undoubtedly carry lessons for many of the World Bank Group’s clients facing water security challenges,” said Jennifer Sara, director for water at the World Bank. Under the agreement, study tours will be held in Israel in the next two years with officials from developing countries and the World Bank. The agreement will include an analytical study of Israel’s experience managing water and transferring of global expertise on water security.

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