Intel acquires the Israeli company Cnvrg.io for about $ 60 million

Intel acquires the Israeli company Cnvrg.io for about $ 60 million
Intel acquires the Israeli company Cnvrg.io for about $ 60 million
Chip giant Intel acquires Israeli company Cnvrg.io. The amount of the purchase has not been announced, it is estimated at about $ 60 million. The Israeli company has so far raised only about $ 6 million, so this is a very nice exit for the founders and investors.

Read more in Calcalist:

The company based in Jerusalem is developing a platform that aims to streamline the work of data scientists’ teams, and make the models they develop more applicable and useful. The company’s last round of funding was in 2019 led by Hanaco Ventures and with the participation of the JVP Fund and private investors. The acquisition is part of Intel’s recent effort in the field of data and is in addition to another recent acquisition of the company in the field in the United States.

Cnvrg.io was founded in 2017 by Yochai Aton and Leah Kolban and employs 18 people in Jerusalem and the United States.

Erel Margalit, investor Photo: Shahar Azran

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