The launch came alongside a promotion offering customers free international shipping to Israel on international purchases of over $49.

The financial details of the deal were not disclosed but a report citing market sources said the estimate was for $10 million.

The round was led by Insight Venture Partners, with participation from Chinese giant Alibaba.

Eight agreements are due to be signed at the 4th annual Israel-China Innovation Committee in the fields of science and technology, life sciences, innovation, digital health, and agriculture.

The Chinese e-commerce giant led a Series B funding round in the Tel Aviv-based startup, which analyzes data quickly and cost effectively.

The Chinese tech magnate is on his first trip to Israel, touted as an important recognition of the local tech ecosystem, where he's also made a number of investments over the past five years.

The tech magnate is also expected to receive an honorary doctorate from Tel Aviv University and hold a speaking session with students.

Firms and startups in the industry have raised over $1 billion in recent years as major global companies have flocked to Israel looking for collaborations

January 24, 2018 | Israeli startup Nexar announced on Wednesday that it closed a $30 million Series B funding round, led by Ibex Investors, with participation from Alibaba Innovation Ventures, Nationwide Insurance and previous investors Aleph, Mosaic Ventures, Slow Ventures, True Ventures, and Tusk Ventures. Co-founded by CEO Eran Shir, a former manager of Yahoo’s […]

Chinese e-commerce giant negotiating deal reportedly worth tens of millions of dollars

China's Alibaba has been heralded as the largest IPO in US stock exchange history, but there are three Israeli companies that have seen far greater success with their own IPOs this year.