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Korea’s NH Venture Targets Investments in Israeli Tech Startups

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NH Venture Investment, a branch of NongHyup Financial Group (NH), is looking to invest millions of dollars in Israeli tech startups, aiming to combine Israel’s innovative technologies with Korea’s manufacturing capabilities to create larger global companies. Established in 2019, NH Venture seeks to build on Israel’s deep-tech expertise, including areas such as artificial intelligence, semiconductors, defence, healthcare, and quantum computing.

In July 2024, NH Venture teamed up with OurCrowd, an Israeli investment platform, to establish the Trepont Fund—an $80 million initiative designed to invest in 30 startups across Israel, Korea, and Silicon Valley. CEO Hyun Jin Kim confirmed that NH Venture plans to invest at least $40 million of the fund specifically in Israeli startups. One of the company’s notable investments is in Kardome, an AI voice recognition company that collaborates with Korean giants LG and Hyundai Motors.

During his recent visit to Israel, Kim met with several startups, including Hailo, an Israeli unicorn in the AI space. Kim emphasized the potential for strong collaboration between Israeli innovation and Korean manufacturing, particularly to penetrate the U.S. market. Despite concerns around the ongoing Israel-Hamas conflict, Kim noted that innovation has remained constant in the region, and NH Venture is not deterred by the situation.

The fund is specifically targeting early-stage companies that have already developed proven products. Ely Razin, a partner at OurCrowd, highlighted that Korean interest in Israeli startups has grown, especially following the Israel-Hamas ceasefire.

The relationship between Israel and Korea is well-established, with Samsung, LG, and Hyundai all having venture arms in Israel. Both countries are among the global leaders in research and development.

Seong Ryong Kang, CEO of the Korea-Israel Industrial R&D Foundation, believes the cooperation between the two countries is more seamless compared to other Asian nations due to their complementary industries, and the presence of Korean venture firms in Israel underscores a strong willingness to collaborate.

Apollo Hospitals Plans Increased Investment in AI to Alleviate Staff Workload

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Apollo Hospitals, one of India’s largest hospital networks, is intensifying its use of artificial intelligence (AI) to alleviate the heavy workload faced by doctors and nurses. The company plans to automate routine tasks like medical documentation, aiming to free up valuable time for healthcare professionals.

With over 10,000 beds across its hospitals, Apollo is increasingly adopting AI to enhance diagnostic accuracy, predict patient risks, and streamline hospital operations. The use of AI is also helping improve precision in robotic surgeries and facilitating virtual medical care. Sangita Reddy, Apollo’s Joint Managing Director, shared that the company had allocated 3.5% of its digital spending to AI over the past two years and intends to further increase this investment in the coming year.

Apollo’s AI tools, which are still in the experimental phase, will analyze electronic medical records to suggest diagnoses, treatment plans, and tests. Additionally, AI will assist in transcribing doctors’ observations, generating discharge summaries, and creating nurses’ schedules from notes. The hospital chain is also developing an AI tool to recommend the most effective antibiotic treatments for patients’ conditions.

The company has set an ambitious goal of expanding its bed capacity by one-third over the next four years, with a portion of the revenue from these new additions being reinvested into AI tools without increasing overall costs. This initiative is part of a broader strategy to tackle the 25% nurse attrition rate, which is expected to rise to 30% by the end of fiscal 2025.

Despite the challenges of high technology costs, diverse data formats, and limited availability of electronic medical records, other major Indian hospital chains like Fortis Healthcare, Tata Memorial, and Max Healthcare are also incorporating AI tools to improve their services. However, according to Joydeep Ghosh, a partner at Deloitte India, accelerating AI adoption remains difficult due to concerns around profitability and operational hurdles.

Logitech Announces $2 Billion Share Buyback and Confirms 2025 Outlook

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Logitech International has revealed plans to repurchase $2 billion worth of shares over the next three years, including an additional $600 million to boost its existing buyback program. The company also confirmed its outlook for fiscal year 2025, forecasting sales growth of 5.4% to 6.4%, reaching $4.54 to $4.57 billion.

Logitech also projects fiscal year 2026 sales will range from $4.53 billion to $4.71 billion, marking potential growth of 1% to 3% in U.S. dollars. This follows a positive performance in the pre-holiday quarter, with the company raising its full-year forecast in January due to increased sales and profit.

During its investor day in San Jose, California, Logitech emphasized its goal of achieving long-term annual sales growth of 7% to 10%, with a non-GAAP gross margin above 40% and an operating margin between 15% and 18%. CEO Hanneke Faber highlighted the company’s market leadership in key categories and its plans to expand into new verticals, with AI playing a pivotal role in its strategy.

Following a pandemic-driven sales surge and subsequent slowdown, Logitech now aims to target new markets, such as education and healthcare, while continuing to serve its traditional base of consumers, gamers, and businesses. The company is also focusing on selling products directly to businesses, including items like a computer mouse with a button that connects users to AI platforms like ChatGPT.