News
5 Israeli Blockchain Cryptocurrency Startups That Raised Funds in 2024
Italian: https://www.youtube.com/watch?v=QxaD5aSbyRc
This year has seen some sizable funding announcements from Israeli blockchain companies that have secured their place as global powerhouses in the space. Here, we take a look at some of the biggest names and numbers that have caught our attention so far in 2024.
Utila Sector: Cryptocurrency Operations | Founded: 2022 | Founders: Bentzi Rabi and Sam Eiderman | Funding: $11.5 million from NFX, Wing VC, Framework Ventures, and other leading web3 and fintech VC funds and angel investors
Utila, an enterprise-level cryptocurrency trading platform, announced Tuesday that it has raised $11.5 million in seed funding from NFX, Wing VC, Framework Ventures, and other leading web3 and fintech venture capital funds and angel investors, including Balaji Srinivasan, Charlie Songhurst, and Surojit Chatterjee.
Utila’s platform enables institutions and developers to manage their digital assets with its secure, chain-agnostic, non-custodial wallet. Utila said its platform is already used by dozens of leading institutional investors and crypto-native businesses to store and manage billions of dollars. Utila’s all-in-one self-custody wallet platform gives businesses complete control of their digital assets across multiple chains, including Bitcoin, Ethereum, EVM chains, Solana, and more under one umbrella. It offers a secure wallet infrastructure that removes complexity without compromising security.
The platform is powered by MPC key management, a self-service policy engine, and a seamless user experience. Utila’s long list of clients include major hedge funds, OTC desks, market makers, and prime brokers that use Utila for their trading operations, as well as crypto-native organizations such as custodians, exchanges, and token issuers that leverage Utila’s infrastructure as a technology provider, or even cryptocurrency payment processors.
Lava Network Industry: Blockchain | Founded: 2023 | Founders: Yair Cleper and Gil Binder | Funding: $15M from Jump Capital, Hashkey Capital, and Tribe Capital.
Lava is building a modular network to simplify blockchain access for developers and users via RPC (Remote Procedure Call) and indexing. RPC is central to web3. All cryptographic applications need to make RPC requests to send and retrieve blockchain data; indexing provides more specialized data requests.
Lava is a three-sided, permissionless marketplace for blockchain data. Consumers get data from Lava; RPC node providers join Lava, contribute data, and get rewarded; and Champions add more modules for providers to serve, extending Lava to chains and on-demand APIs.
In the future, Lava aims to bring its modular approach to oracles, sequencing, and other data infrastructure, serving as a permissionless everything repository for any web3 service. This initiative, launched in October 2023, has already signed partnerships with NEAR, Evmos, Axelar, Starknet, Koii, Agoric, and others.
Fhenix Industry: Blockchain | Founded: 2023 | Founders: Guy Zyskind | Funding: $22M total from Hack VC with participation from Dao5, Amber Group, Primitive, GSR, Collider, and Stake Capital
Fhenix, a developer of a Layer 2 blockchain that enables confidentiality, powered by fully homomorphic encryption, has announced the closing of a $15 million Series A funding round led by Hack VC with participation from Dao5, Amber Group, Primitive, GSR, Collider, and Stake Capital, among others. This brings the project’s total funding to date to $22 million. The company plans to use these funds to support the initial phase of its open testnet, called Helium, which will allow developers to deploy smart contracts on the Fhenix network for the first time.
Fully homomorphic encryption (FHE) is a new form of encryption that allows data to be processed blindly without ever needing to be decrypted. Fhenix is the first blockchain to natively integrate FHE to provide an EVM-compatible smart contract platform that allows developers to encrypt all or part of their Solidity-based applications using familiar tools without any prior knowledge of FHE encryption. Fhenix recently announced a technical partnership with EigenLayer to develop FHE coprocessors, which allow host chains, whether Ethereum itself, L2, or L3, to offload specific computational tasks to a designated processor, allowing developers on any EVM-compatible chain to integrate encrypted computation into their application logic.
Oobit Sector: Cryptocurrency mobile payments | Founded: 2017 | Founders: Amram Adar and Aharon Miller | Funding: $25 million from Tether, CMCC Global’s Titan Fund, 468 Capital, and Solana co-founder Anatoly Yakovenko
Israeli-founded cryptocurrency mobile payment app Oobit announced Monday that it has raised $25 million in Series A funding as part of its expansion plans as it pushes to promote cryptocurrency adoption as a means of payment. Oobit’s app lets cryptocurrency holders tap and pay at more than 100 million merchants worldwide that accept Visa and Mastercard, while merchants receive fiat currency, according to the company.
Singapore-based Oobit was co-founded in 2017 by CEO Amram Adar and COO Aharon Miller. Oobit said it planned to expand into regions including Asia Pacific, the United Arab Emirates, Canada and Australia in addition to its core markets of the European Union and the United Kingdom, adding that it would use the funds to focus on integrating external wallets and accelerate the development of a Web3 gateway.
WaveBL Industry: Blockchain | Founded: 2015 | Founders: Gadi Ruschin, Or Garbash, Yair Sappir | Funding: $37M from NewRoad Capital Partners, ZIM, Marius Nacht, Contour Venture Partners, Frank Sica, and Techstars Central LLC.
WaveBL is a digital platform that uses proprietary blockchain technology to electronically transfer trade documents. The WaveBL solution enables instant, encrypted and authenticated transfer of electronic bills of lading and related trade documents. The platform complies with universal processes and regulations in use. The platform is designed to meet the needs of all parties involved in trade, including shipping companies, agents, brokers and banks.
The Israeli startup’s platform enables instant, encrypted and authenticated transfer of electronic bills of lading and related trade documents. The platform is designed to meet the needs of all parties involved in trade, including shipping companies, agents, brokers and banks
The Edge of Tech is an innovative news experience powered by AI, where CTech journalists are AI-generated, directly from our native AI-powered newsroom, in partnership with Caledo News. All news, opinions and analysis are based on professional work by CTech and content from Calcalist. AI transforms articles into dialogues between avatars and creates compelling studio shows.