The Israeli startup Noogata is closing down. It was started in 2019 through Team8’s venture-building platform. Over the years, the company raised $28 million from investors like Allon Ventures, Team8, Eight Roads, Inference Partners, and Skylake Capital.
Noogata built an AI-powered platform that helped businesses get useful insights, make forecasts, and receive smart recommendations based on data. It supported different departments like sales, operations, finance, and marketing.
When the company closed, it had 10 employees. In April 2022, during its $16 million Series A funding round, Noogata had more than 40 employees. Some of its well-known clients included Colgate-Palmolive, PepsiCo, mDesign, and Bugatti.
Noogata decided to shut down because it couldn’t reach important business goals and wasn’t able to get more funding. The company plans to try to sell its technology.
Assaf Egozi, the CEO, and Oren Raboy, the CTO, founded Noogata. They started the company in 2019 with help from Team8.
Egozi has over 20 years of experience in management. He worked for 10 years at McKinsey, a consulting firm, in different parts of the world. He also worked as an independent consultant for Team8 since it began in 2014.
Raboy has a lot of experience in technology and business. He worked as a Senior Product Manager at Cisco, as Director of Product Management at P-Cube, and at Totango, where he was a co-founder and held roles as VP of Engineering and VP of Products.
Read more- Egyptian cybersecurity firm WHITEGUARD secures the round of funding
