Intel Capital to invest in two Israeli startups
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Intel Capital, chipmaker Intel Corporation’s investment entity, announced on Tuesday from San Diego that it is investing more than $22 million in new investments in 10 startups, including two Israeli firms.
One of them is Sckipio, which has developed fast modem technology that can be delivered to homes via existing copper wiring and will be getting about $9 million from Intel. The second is Parallel Machines, which Intel described as “an early-stage company focused on providing highly optimized environments for advancing predictive analytics and machine learning.”
The amount that Parallel Machines will be getting from Intel was not disclosed. Intel Capital noted that it has invested in 75 Israeli companies since the 1990s. (Amitai Ziv and TheMarker)
Moovit to get funding from actor Ashton Kutcher’s venture capital firm
Moovit, the Israeli public transportation application developer, announced on Tuesday that Sound Ventures, the venture capital firm established by American actor and startup investor Ashton Kutcher and investor and talent manager Guy Oseary, is investing in the company.
Moovit, which reports that it services 30 million users in more than 700 cities around the world, plans to use the investment, the size of which was not disclosed in the company statement, to advance growth in what it called “promising markets like India and China.” (TheMarker)
Revenues at webpage platform Wix climb
The Tel Aviv-based webpage design platform firm Wix reported yesterday that it had $53.6 million in third-quarter revenues, 43% higher than the quarter last year and 10% higher than the second quarter this year.
The latest revenue figures, which beat analysts’ expectations, would have been even higher had they not been dragged down by foreign currency fluctuations, notably of the Brazilian real and the Russian ruble. Although the company had positive third-quarter adjusted earnings before interest, taxes, depreciation and amortization for the first time in its history, Wix, which is traded on the Nasdaq exchange, had a net quarterly loss of $6.1 million. The firm reported that its third-quarter user base climbed by 4.8 million to 72 million people. (Omri Zerachovitz)