“To take initiative — that’s the lesson we learned from October 7th. If you don’t act, you lag behind”

In honor of the New Jewish Year, the CEOs of our impact investment portfolio companies came together for a festive gathering, which has long become a tradition of sharing knowledge and experience. Every year, the meeting fosters new connections and fruitful collaborations. The eleven CEOs presented their hi-tech companies, discussed the challenges they faced in the past year, and shared the opportunities that emerged during this tumultuous period.

The Future of Medicine is Now

The rapidly advancing healthcare technologies are revolutionizing the medical services we receive. Innovative and groundbreaking solutions implemented in healthcare systems are improving their efficiency in disease prevention, personalized treatment, and accelerating recovery processes. Alongside life expectancy, our quality of life is also on a constant rise.

SpotitEarly is developing a simple, accurate, and cost-effective breath test for the early detection of several of the most aggressive and common cancers, including breast, lung, colon, and prostate cancers. In its unconventional laboratory, scientists, technologists, and dog trainers work together. The laboratory workers, Labradors and Beagles, identify cancer in breath samples using their highly developed sense of smell, while an artificial intelligence system designed by the company refines the dogs’ indications. Results are available within a few days. “We have conducted clinical trials in two leading Israeli hospitals, with an accuracy rate of 93%,” said CEO Ariel Ben Dayan. “Looking forward, I can say that SpotitEarly is set to become commercial in mid-2025. We aim to increase the volume of tests while improving their quality. It’s exciting to see our aspiration to save lives becoming a reality.”

EyeControl also demonstrated significant results this year, showcasing the effectiveness of its wireless communication system for intubated and sedated ICU patients. A camera and headphone set placed on the patient’s head allows the medical team to remotely track eye movements, enabling them to tailor treatment based on the patient’s level of consciousness. Additionally, family and friends can send messages to their hospitalized loved ones. The system has already been actively deployed in several trauma units by the time the tragedy of October 7^th, 2023, occurred, and the company supplied it to severely wounded IDF soldiers who, unfortunately, have been arriving steadily at hospitals since the outbreak of the war. “This year, we joined the ‘Next October’ memorial initiative, through which start-up companies commemorate the victims and fallen from the events of October 7 and the war, thereby honoring the memory of these heroes,” said Or Ratzkin, CEO of the company. EyeControl chose to dedicate its work to the memory of Tzvika Lavi, a Maglan fighter who was critically wounded in Gaza and, in his final days, communicated with his family through EyeControl. “We received a tangible reminder of our shared purpose and impact, especially during this time,” he said.
EyeControl began as a non-profit organization focused on developing solutions for ALS patients. With support and guidance from the Menomadin Foundation, they navigated the complex transition to serving ICU patients, addressing a global need for protecting brain function. Similarly, Biobeat also found itself at a crossroads. The COVID-19 pandemic opened up four relevant markets for its remote physiological monitoring technology. Guided by the Menomadin Foundation, Biobeat chose to focus on blood pressure monitoring and developed a system consisting of a patch attached to the patient’s chest. The patch transmits data to a small device and provides physicians with up-to-date patient data from the cloud. This kit is set to replace the outdated arm cuff device for blood pressure measurement, which has been in use for many decades and found to raise blood pressure. “Our product is so innovative,  there’s nothing else like it on the market,” said CEO Arik Ben Ishay, “and with over 50% of Americans suffering from blood pressure disorders, we expect it to have a significant impact on the lives of many patients who will be diagnosed at earlier stages, before developing serious diseases caused by these disorders.”

An Energized Vision for Green Technology

The climate crisis has put the energy field at the forefront of the global agenda, and innovative technologies in this field have a direct impact on humanity’s survival. Aligned with the Menomadin Foundation’s impact objectives, two promising companies in this field have joined our portfolio this year.

“The question that guides EnSight.ai is: What kind of world are we leaving for our children?,” said Alon Moshkovitz, CEO of the company, which provides guidance for businesses and private households in their transition to renewable energy. Their Software as a Service (SaaS)-based solution allows for efficient and cost-effective energy management and leads to greater energy output from existing systems and infrastructures. The software solution is deployed quickly and can manage up to 1,000 assets simultaneously – for example, ten towers with solar panels – optimizing their performance. “The climate crisis is one of the main challenges, both in Israel and globally, and I believe our solution will facilitate the transition to renewable energy,” said Alon.

Momentick is also working towards a cleaner and safer environment, focusing on reducing toxic gas emissions and oil spills by energy companies operating offshore platforms, power plants, and refineries, helping them detect leaks and spills in their pipelines and infrastructure by deciphering gas and oil signatures in satellite imagery. The company holds four patents in this field and can monitor assets every 48 hours to provide its customers with a detailed report of emissions and leaks. “We have recently expanded to banks and insurance companies that finance and insure energy companies and drilling projects without knowing the risks involved,” explained CEO Daniel Kashmir. “Regulations expose financial institutions to liability and lawsuits, and our technology, which works with many satellites, serves them as well.”

Israeli AgTech is Advancing Global Food Security

Food and water security are among humanity’s most pressing challenges. Israel is at the forefront of both, and countries around the world look up to our innovation and solutions.

SupPlant offers an irrigation solution that delivers higher crop yields with less water consumption. Their AI-powered system includes sensors installed in the soil and on plants that provide farmers with critical data such as fruit or vegetable size, sugar content, and irrigation recommendations. The company is already commercial and primarily serves large agricultural corporations. Morocco and the United Arab Emirates are currently the company’s largest and fastest-growing markets, and significant profits are expected in the second quarter of next year. “We aim to provide the data we collect from tens of thousands of irrigation events daily, from nearly every corner of the globe and under various weather conditions, to small-scale farmers in the developing world, remotely and free of charge, with the support of their governments,” said Ori Ben Ner, SupPlant’s CEO. “For them, our solution means more than just food on the table. Higher yields are a springboard, enabling livelihoods, education for children, and an improved quality of life for the family.”

On the long journey from farm to table, Liva is focusing on reducing food waste, a primary cause of fresh food shortages and high prices for fruits and vegetables. Liva, a new addition to the Menomadin portfolio, is working to extend the shelf life of fresh produce by multiplying the beneficial bacteria found naturally on fruits and vegetables to prevent decay. The company has developed a sticker applied to the produce immediately after harvest, facilitating this natural process. In addition to reducing the use of harmful chemicals and premature harvesting, which compromises the taste of the crops, the technology also saves on refrigeration and gas costs throughout the supply chain. “We lose 40% of our food products on the shelf,” says CEO Ifat Peled Dinstag. “We are currently focusing on strawberries and avocados, which are huge markets globally, and in the upcoming years, we will expand to other types of food products.”

Accessible Opportunities, Services, and Spaces through Technology

The past year has made it abundantly clear how essential and fundamental mental health services are to the community, and how limited their accessibility is. ifeel has developed a platform that offers emotional support to a vast number of people simultaneously. The platform provides one-on-one sessions with a licensed therapist via chat. The bottleneck, which begins at the diagnosis stage, is resolved thanks to AI-based analysis and referral to a suitable therapist. In order to reach thousands of people, ifeel chose to provide the platform to large companies and businesses in Europe and offer this important and otherwise expensive support to their employees at no charge. Since the end of the COVID-19 pandemic, the company has been working with Femi Health Services 360 in Israel, and with the outbreak of the war, it expanded the service to the Israeli business sector, wives of reservists, and trauma victims. “We were pleased when Mitrelli and Menomadin asked to use our service, and have been providing it to all their employees and their families,” said CEO Amir Kaplan, who joined the Zoom meeting from Spain.

From the United States, we were joined by Idan Meir, CEO of RightHear, a company that makes public spaces accessible to the blind, visually impaired, and those with orientation difficulties through an app that provides personalized voice guidance. The app connects to signals transmitted by GPS-based sensors strategically placed in public buildings or parks, allowing users to navigate independently in their environment. Unlike Braille signs, which 90% of the blind and visually impaired cannot read, and voice guidance stations, which are difficult to hear in noisy places, RightHear’s solution provides independent navigation in over 2,000 shopping centers, hospitals, universities, public transportation stations, and parks worldwide. The service is available free of charge on mobile phones or tablets in 26 languages. “Amazon, Microsoft, and JFK Airport are just a few examples of our clients. I’d be happy to assist you with my knowledge, connections, and presence in the States as you navigate the American market,” Idan offered his colleagues, adding, “I see a room full of entrepreneurs. Taking initiative is the lesson we’ve learned from October 7th. If you don’t act, you’ll lag behind.”

For Israel to continue leading the way in entrepreneurship and innovation, there is a need to make these opportunities accessible to more communities. Extra-Tech empowers young Haredi (Ultra-Orthodox) men and women with the tools needed to excel in leading roles in the hi-tech industry. “Today, 25% of children in Israel are Haredi . My co-CEO Avremy’s grandmother, for example, has over 1,000 descendants,” shared co-CEO Moshe (Moishe) Friedman, “it’s a challenging reality, but also a huge opportunity.” The company, which started as a non-profit organization, trains around 2,000 young Haredi men and women each year in IT, computer science, and technology, and places them in top positions at tech giants like Google and Intel. “Since October 7th, the number of young Haredi men and women reaching out to us has increased dramatically. They want to be part of the country and the economy, to serve in the army, volunteer, and work. We’re growing. And that’s why I wake up optimistic every morning,” Moishe concluded.

Management that Fosters Entrepreneurship

Impressed by the incredible range of companies making the world a better place in so many ways, Dan Mano, CEO of Smilebox and a Perion board member, began an open discussion with the CEOs. He offered several key tips for management that foster entrepreneurship, maximize team potential, and also attentive to intuition. “Setting goals, making decisions, and conducting regular reviews of planning versus execution,” Dan emphasized, “create a culture of constant striving for innovation and action.”

Dreamers, Doers, Innovators

Dr. Merav Galili, the Menomadin Foundation CEO, summed up: “Each of you is a dreamer, doer, and innovator; you don’t shy away from challenges, and meeting you here today empowers us. In this turbulent year, while many of your employees were out on reserve duty, you continued to steer your companies even from the front lines and, with unparalleled dedication, continued to shoulder the responsibility for the livelihoods of many families and contribute to Israel’s economy. Like many of you, we also experienced loss and were bolstered by inspiring moments in our Zoom conversations with you from the field, tank, or naval ship. In my eyes, you are the epitome of resilience,” said Merav, “and I wish that the resilience you demonstrate will accompany us to a better year and that all the hostages will soon return to us.”