Hi everyone,

This week in Israeli tech was a reminder that the AI boom is moving beyond chatbots and demos into infrastructure, memory, measurement, finance workflows and deep tech.

AppsFlyer announced a more than $1B strategic/secondary financing from Google, Meta, Unity and Moloco at a $2.7B valuation, Engram came out of stealth with $98M at a $600M valuation to build memory infrastructure for AI, and Lama AI raised a $12M Series A to bring AI agents into lending and credit-risk workflows.

The M&A market was also active: Priority acquired Obol to add AI cash-flow forecasting into its ERP platform, while Deloitte Israel acquired Vision.bi to deepen its data and analytics capabilities. On the fund side, Deep33 closed a $200M deep-tech fund and Stratos Ventures raised $50M to back Israeli-linked defence-tech startups and vgames launched a $10M indie-game fund.

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Chart of the week

AI in insurance landscape by Iconiq - what are the companies that will matter in five years across claims, underwriting, servicing, distribution, and infrastructure (source)