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Cloud security, AI lead venture funding in 2024, report says
YL predicts further growth for Israel’s cybersecurity sector
Israel funding rounds totalled 89 in 2024, YL says
More than half of funding rounds were seed last year

Israeli cybersecurity firms raised $4 billion in 2024, more than double that of 2023, led by firms seeking to protect the cloud along with a surge in artificial intelligence, global venture capital firm YL Ventures said on Tuesday.

Cybersecurity has become a fast-growing segment of Israel’s high-tech sector, which is a key economic growth driver accounting for 20% of economic activity, 16% of jobs and more than half its exports.

Working under the R3 banner, a gang of eight banks have successfully tested a distributed ledger prototype for bond transactions using Intel technology. R3 and the banks – CIBC, ING, HSBC, Scotiabank, Societe Generale, State Street, UBS and UniCredit – used an implementation of Intel’s proprietary distributed ledger platform, Sawtooth Lake, for the trial. The…

The Chicago Board Options Exchange has agreed a blockbuster deal to acquire Bats Global Markets for $3.2 billion using a mixture of cash and stocks. Bats shares soared late last week as speculation about a possible buy out swirled. The sale comes at a significant premium to Bats closing share price before the latest spike,…

A senior executive at the European Central Bank has spoken out about the potential damage to financial market integration from the haphazard uptake of distributed ledger technologies by the Bloc’s banks. Speaking at the annual Sibos event in Geneva, Yves Mersch, a member of the executive board of the ECB, acknowledged the potential of distributed…

Led by former Deutsche and Barclays, Swift, Barclaycard and Gain Capital Payments seniors, Form3 Financial Cloud is promising full payments and banking functionality through a single API platform on a pay-as-you-go basis. Operating a software as a service (SaaS) model, Form3 claims it will deliver comprehensive payment and core banking service, accessed through a single…

PayPal is teaming up with electronics manufacturer Lenovo and chip maker Intel to let users authenticate payments on their PCs with a fingerprint. Working with biometrics specialist Synaptics, the partners aim to help owners of Lenovo computer-owners ditch passwords for PayPal and other Fido-enabled services. PayPal and Lenovo were among the firms that set up…