In a First for an Israeli University, Technion Opens a China Campus

Tech Nation| Incubator developing technology for elderly opens in Be’er Sheva ■ MyThings startup asks court for stay of proceedings ■ Anodot raises $23 million for data analysis based on artificial intelligence

File photo: A building stands at the recently inaugurated Cornell Technion campus on Roosevelt Island in New York, U.S., on Tuesday, Oct. 17, 2017.
John Taggart / Bloomberg

In a first for an Israeli university, Technion opens a China campus

The Technion-Israel Institute of Technology became the first Israeli university with a campus in China after the Guangdong Technion Israel Institute of Technology formally opened its doors Monday in Shantou, a city in Guangdong province. A partnership with the Li Ka Shing Foundation and the Guangdong and Shantou governments, the Guangdong Technion Israel Institute of Technology will offer undergraduate and graduate programs in engineering and science. “China offers the Technion a broad platform to realize its academic excellence. We in turn must learn from the Technion and Israel what innovative thinking is,” said GTIIT Chancellor Li Jiange.

Some 3,000 students are expected to attend the school in its first decade. The campus includes 13 buildings, 29 classrooms, 14 teaching laboratories and 55 research laboratories. The Li Ka Shing Foundation donated $130 million to the Israeli university in 2013, with some of the money designated for the China campus. The Guangdong and Shantou governments contributed $147 million. (Lior Dattel)

Incubator developing technology for elderly opens in Be’er Sheva

A technology incubator focused on developing products and services for the elderly opened in Be’er Sheva on Wednesday. The 5 million shekel ($1.4 million) facility, backed by the city, the National Insurance Institute and the American Jewish Joint Distribution Committee, already houses five startups, among them UniperCare, which a developing a television platform to help residents of retirement home stay in touch with their families. “Higher life expectancies have brought new challenges that until now haven’t been the focus of entrepreneurs. The market is big and has huge potential, and now we’re letting the brightest minds in Startup Nation demonstrate their abilities in this area,” said Boaz Gur-Lavie, a manager at CDI Negev, the incubator that will be home to the new Health Aging Lab. Other startups include BetterCare, whose app helps caregivers at nursing facilities get more exact information on the quality of care, and Healthy.io, which lets users perform their own clinical urinalysis at home. (Eliran Rubin)

MyThings startup asks court for stay of proceedings

MyThings, once one of Israel’s most promising startups, on Wednesday asked the Tel Aviv District Court to issue a stay of proceedings and to appoint an administrator to sell the company. The company’s technology is used by companies to make follow-on pitches via banner ads to users who have already expressed an interest in their product, but CEO Assaf Suprasky told TheMarker that MyThings was too reliant on a single corporate customer that didn’t renew its contract last year. MyThings laid off 26 employees, raised $3 million in new capital and put itself up for sale. A U.K. buyer withdrew a tentative $6 million offer for the company this week, leaving MyThings with no choice but to seek court protection, he said. In its petition, which was supported by its 35 employees and creditor Silicon Valley Bank, MyThings said it had $5.5 million in debt against $500,000 in cash and $1.8 million in liabilities collected, and to collect from customers. (Ruti Levy)

Anodot raises $23 million for data analysis based on artificial intelligence

Anodot, which uses artificial intelligence to analyze data, said Wednesday it raised $15 million to bring its total fundraising in the current round to $23 million. The additional investment was led by Redline Capital Management joined by existing investors Aleph Venture Capital and Disruptive Technologies Venture Capital. Anodot’s solution enables businesses to track and correlate massive volumes of business and technical data in real time to identify glitches like the kind that interrupted sales for major retailers on Black Friday this year. Its customers include Foursquare, Lyft, Microsoft, Upwork and Waze. The new funds will be used to open offices in London and in Asia, to expand its U.S. team and to invest in sales and marketing and in research and development. Anodot was founded in 2014 by David Drai — a co-founder of Cotendo, which was later acquired by Akamai — together with Ira Cohen, formerly chief data scientist at HP, and software executive Shay Lang. (Eliran Rubin)