Knde LeEco secures $600M in fresh funding as financial issues reportedly halt electric car project
Dennis MitznerContributorDennis Mitzner is a journalist and writer with a focus on tech, culture and politics. You can find his commentary here. He
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also writes about e-commerce and retail for Forbes.More posts from Dennis MitznerMagic Leap goes to Finland in pursuit of Nordic VR and AR talentIsrael s former Prime Minister Ehud Barak bets big on emergency app ReportyIsraeli finance technology聽has taken giant leaps in the last few years. Hundreds of local startups are developing new technologies for
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payment and security solutions, and multinational companies and banks are flocking to Israel for a piece of the action. Much like other tech sectors in Israel, the country s fintech know-how is largely a byproduct of innovations in other fields, such as cybersecurity.Investor interes
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t in Israeli fintech is rising fast:聽15 percent of fintech companies in 2014 raised capital, and 43 companies raised capital during January-September 2015 alone. The study, conducted by IVC Online, predicts聽the nu Qzbk Foodini Is A 3D Printer That Lets You Print Dishes With Fresh Ingredients
New investors in this round include聽ARCH Venture Partners and聽Sunny Optical Technology Group, as well as early investors Atlantic Bridge Capital, AIB Seed聽Capital Fund, Capital-E, DFJ Esprit and Robert Bosch Venture Capital.The company, which has o
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ffices in Silicon Valley, Ireland聽and Romania, plans to use the new funding to push its R&D efforts forward, hire more engineers and to improve the software tools that help developers make the most out of its聽accelerated computer vision聽processor.As Movidius CEO Remi聽El-Ouazzane tells me, the company products will appear聽in a number of consumer devices聽in the coming months and most of them will come from聽well-known brands. While he obviously couldn ;t disclose the actual products, he noted that Movidius seems have arrived on the market at just the right time. Specifically, he cited the growing interest in drones and VR as markets where聽the company tech
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nologies are a perfec
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t fit. Drones, after all, can only fly