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Syte raises $21.5M to expand visual AI tools

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Syte, which uses visual AI technology to aid retailers, landed an investment of $21.5 million the company announced Monday. Syte plans to grow its reach across the United States, Europe and Asia; open a new office in San Francisco and expand its New York space; and hire about 70 new employees in Israel and the U.S. The funding will enable the visual product discovery company to invest in visual AI research and development, and introduce its latest product, visual AI personalization. The funding round was led by Viola Ventures with assistance from Storm Ventures, Commerce Ventures, Axess Ventures and Lyra Ventures. The fresh investment pushes the company's total funding to date to $30 million. Syte plans to quadruple its user base in 2020 by "focusing on enterprise and SMEs, strengthening current relationships, and building new ones," it stated in a company blog post.


Nvidia outbids Microsoft, Intel to acquire chipmaker Mellanox for $6.9 billion

Mashable

Nvidia has come out on top in a bidding war for chipmaker Mellanox. In a press release on Monday, Nvidia announced its $6.9 billion acquisition of Mellanox, an Israel and California-based networking technology and supercomputer chipmaker. The all-cash acquisition is the largest ever for Nvidia, a company best known for its graphics processors for high-performance gaming. Mellanox's focus is on technology for networking and data storage. The company creates InfiniBand and Ethernet products for use in the cloud and data centers as well as in the artificial intelligence sector.


Spikes in search engine data predict when drugs will be recalled

New Scientist

Could internet searches identify dodgy drugs? A Microsoft researcher has trained an algorithm to predict whether a drug will be recalled, using queries made through Microsoft's Bing search engine. "We know that every once in a while there will be a batch of a pharmaceutical drug that will have something wrong about it," says Elad Yom-Tov at Microsoft Research in Israel. "People will start asking about that drug more often or more than they usually do." Pharmaceutical companies and regulators such as the US Food and Drug Administration (FDA) monitor drugs on the market to keep tabs on adverse effects and potential faulty batches.


eBay Agrees to Acquire SalesPredict - eBay Inc.

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Today eBay announced it will acquire SalesPredict, an Israel-based company that leverages advanced analytics to predict customer buying behavior and sales conversion. SalesPredict is eBay's latest acquisition that will support its artificial intelligence, machine learning and data science efforts. It follows eBay's recent acquisition of Expertmaker, in order to further bolster our structured data efforts. Financial terms of the deal were not disclosed. Upon the close of the transaction, a number of SalesPredict's employees will join eBay's structured data organization, working from eBay's Israeli Development Center in Netanya.


eBay Inc.: eBay Agrees to Acquire SalesPredict - The Wall Street Transcript

#artificialintelligence

Today eBay announced it will acquire SalesPredict, an Israel-based company that leverages advanced analytics to predict customer buying behavior and sales conversion. SalesPredict is eBay's latest acquisition that will support its artificial intelligence, machine learning and data science efforts. It follows eBay's recent acquisition of Expertmaker, in order to further bolster our structured data efforts. Financial terms of the deal were not disclosed. Upon the close of the transaction, a number of SalesPredict's employees will join eBay's structured data organization, working from eBay's Israeli Development Center in Netanya.


E-commerce search startup Twiggle scores 12.5M Series A led by Naspers

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Search engines on large e-commerce sites often spit up a lot of results, which is great if you want to browse, but otherwise annoying. Twiggle thinks it has the solution. Internet conglomerate Naspers agrees, because it has led the Tel Aviv-based startup's 12.5 million Series A. Yahoo Japan, State of Mind Ventures (a returning investor), and Sir Ronald Cohen also participated in the round. Twiggle, which has raised 14.7 million so far, will launch on several e-commerce sites in August. It hasn't revealed who its clients are yet, but they will include other Naspers portfolio companies.