TEL AVIV, Israel, Nov. 21, 2024 /PRNewswire/ — Israel Corporation Ltd. (TASE: ILCO) (“ILCO”) announced today its third quarter results for the period ending September 30, 2024.

Selected Financial Figures for the Third Quarter 2024:
$m	Q3/24	Q3/23
ILCO share in ICL profit1	49	59
Financing income, G&A and other expenses at ILCO headquarter level Advertisement	–	(1)
Tax income of ILCO Headquarters	–	–
Net profit to company’s shareholders	49	58

Liquidity at the ILCO Headquarters Level²

As of September 30, 2024, total financial liabilities were $722 million, and investments in liquid assets amounted to $843 million of which $31³ million are pledged deposits.

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Net cash¹ as of September 30, 2024, totaled $84 million. The net cash includes the fair value of derivatives transactions, which increases the economic value of the financial liabilities by $37 million. As of June 30, 2024, the net cash was $64 million.

Additional updates

On March 27, 2024, ILCO Board of Directors decided on distribution of dividend at the sum of $37m, this in accordance with the company’s dividend policy announced in January 2023. The payment date was April 17, 2024.

On July 17, 2024, S&P Maalot, reaffirmed ILCO’s credit rating of ilA+/stable.

ILCO financial results of ILCO are mainly affected by the results of its investees. For more details see detailed financial report.

ILCO Total Assets, Net
$m	30/09/2024 Advertisement
Assets
ICL (~567m shares, market value4)	2,427
AKVA Group (~6.6m shares, market value4)	35
Other5	11
Total Assets	2,473
ILCO’s Net Cash Advertisement	84
Total Assets, net	2,557

About Israel Corporation

Israel Corporation Ltd. (TASE: ILCO) (“ILCO”) is a reputable public investment company, which owns and invests in high quality companies with established managements and go-to markets.

In November 2019, ILCO announced its updated strategy, ILCO plans to expand its portfolio through new investments over the next few years. ILCO plans to focus mainly on the food (inc. tech), agriculture (inc. tech), healthcare and industry 4.0 sectors. For more details please see the following link to ILCO updated Strategy Presentation 

ILCO strives to generate return on its investment through active board participations and its operational and managerial expertise.

ILCO current core holdings include c.44% stake in ICL Group (NYSE:ICL, TASE:ICL) and c.18% stake in AKVA Group (OB:AKVA). ILCO is publicly traded on the Tel Aviv Stock Exchange under the ticker ILCO and is included in the TA-35 Index.

For further information on ILCO, see ILCO’s publicly available filings, which can be found on the Tel Aviv Stock Exchange website at http://maya.tase.co.il.

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Please also see ILCO company website http://www.israelcorp.com for additional information.

Convenience Translation

The financial information found in this press release is an English summary based on the original Hebrew financial statements and is solely for the convenience of the reader. The binding version is the original in Hebrew.

Forward Looking Statements

This press release may contain forward-looking statements, which may not materialize and are subject to risks and uncertainties that are not under the control of ILCO, which may cause actual results to differ materially from those contained in the disclosures.

Investor Relations Contact
Idan Hizki
Vice President, Business Development & Investor Relations
Tel: +972 3 684 4500
[email protected]

1. Amortization of excess cost
2. Israel Corp and its wholly owned and controlled headquarter companies.
3. Following the end of the quarter, $6m were np longer pledged
4. As of September 30, 2024
5. Includes 1.508m shares in Nordic Aqua Partners (OB:NOAP), after the end of the quarter NOAP successfully completed a financing round of ~NOK 366m, in which ILCO participated slightly above its pro-rata share ending with total shares of 1.98m.

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Funding to Accelerate Development of AI-Powered Governance, Risk, and Compliance (GRC) Intelligence Layer

PALO ALTO, Calif., Nov. 21, 2024 /PRNewswire/ — Trustero, a Silicon Valley innovator in AI-powered Security and Compliance, announced today the close of a $10.35 million Series A funding round led by Bright Pixel Capital (formerly Sonae IM), with participation from existing investors Engineering Capital, Zetta Ventures Partners, and Vertex Ventures US. Trustero is proving that AI can drive real revenue and operational breakthroughs in GRC, a space traditionally dominated by complex, high-cost, and manual processes.

“With Trustero, organizations no longer need to be weighed down by compliance. We offer human-quality, actionable GRC intelligence in seconds, without the high fees,” said Phillip Liu, CEO of Trustero. “The Trust Graph is our secret weapon, allowing us to ingest diverse data sources from GRC platforms, cloud providers, and more, delivering insights instantly.”

Trustero’s founder and CEO, Phillip Liu, is a visionary tech entrepreneur with a proven track record. Formerly, he founded SignalFx, a leader in cloud monitoring solutions, which was acquired by Splunk for over $1 billion. His early experience at Facebook and Opsware further distinguished him as a trusted name in Silicon Valley. Now, he turns his focus to Compliance and Security, seeing a new opportunity to revolutionize the field with AI, bringing agile, cost-effective solutions to an industry struggling with resource-intensive and manual workflows.

Since its founding in 2020, Trustero has grown significantly by helping organizations reduce compliance costs and the time commitments of their senior executives. Companies with complex compliance demands like Chassi, an AI-analytics platform, have experienced the most substantial time and cost savings. They added Trustero AI to their ISO 27001 compliance program in 2024. “For the rest of the company, the time savings was about 10-to-1. For me, it was closer to 100-to-1!” said Chassi CFO, Justin Dooley. “We also saved 75% on our internal audit costs because all the data was ready for the auditors.”

The new capital will be instrumental in driving Trustero’s development of more powerful and accurate AI for security and compliance, scaling operations, expanding market reach, and adding top-tier talent from AI engineering and GRC. Trustero has already made one executive hire since raising their Series A, bringing in George Totev as Chief Information Security Officer. He’s tasked with enhancing the company’s security capabilities and driving innovation in AI-driven GRC solutions.

George comes from Snowflake, where he led the Customer Trust team, managing 30+ certifications and customer security compliance. Previously, he built Atlassian’s Risk & Compliance function and held key roles at Visa, Goldman Sachs, Symantec, and The World Bank.

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Trustero’s technology is backed by its patented Trust Graph, which delivers unprecedented speed, accuracy, and cost savings in GRC intelligence. The Trust Graph is the core engine that enables Trustero to answer complex security questions in seconds, perform gap analyses across frameworks like FedRAMP and ISO 27001, and provide powerful audits, evidence mapping, and remediation guidance. This innovation differentiates Trustero from traditional GRC programs that rely on high-cost external consultants or limited manual processes.

“Companies are overwhelmed by the growing compliance demands driven either by evolving regulations or increasing customer compliance requirements. With Trustero, compliance and security teams go beyond simple compliance automation, by having a human-like AI-advisor that interprets not only the controls but also the evidence, in a manner comparable to how a human would,” explains Daniela Coutinho, Manager at Bright Pixel Capital.

Fernando Martins, Director at Bright Pixel Capital, added, “We are excited to support such a strong team, led by an experienced and technical leader, as they enter their next growth phase.”

About Bright Pixel Capital

Bright Pixel Capital, formerly known as Sonae IM, is the technology investment arm of the multinational group Sonae. With special focus on cybersecurity, infrastructure software, retail technologies, business applications and emerging tech, it has a portfolio of more than 60 companies, from early to growth stages. Bright Pixel Capital Capital Capital acts as a partner that brings specialized know-how, global footprint, and a wealth of experience in helping companies from early stage to IPO. Find out more at brpx.com.

About Trustero

Trustero’s AI automates governance, risk, and compliance functions such as compliance audits, security questionnaires, tailored remediation guidance, and third-party risk evaluations. Founded in 2020 by Phillip Liu, Trustero is the first to bring generative AI into the GRC space, enabling organizations to achieve and maintain compliance with unmatched speed, efficiency, and accuracy. For more information, visit Trustero.

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HONG KONG , Nov. 21, 2024 /PRNewswire/ — COCA Wallet, a leading non-custodial crypto wallet with debit card, is thrilled to announce its official launch on Telegram.

By integrating directly into Telegram, one of the world’s largest messaging platforms with over 800 million active users, COCA Wallet is transforming how people manage their digital assets. As Telegram solidifies its position in the crypto space with blockchain-friendly features, COCA’s launch as a mini-app brings unparalleled convenience. Users can now access and manage their cryptocurrencies effortlessly without the need for additional apps or complex setups. This milestone simplifies cryptocurrency management for everyone—from newcomers to seasoned users.

Key Features of COCA Wallet on Telegram:

• Complete Wallet Management – Send, receive, and track portfolio with ease.
• Cross-Chain Swaps – Trade tokens across 13+ blockchains with zero fees (network fees apply).
• COCA Mastercard Integration – Spend crypto online or in stores seamlessly.
• Non-Custodial and Secure – Full control of assets with advanced encryption and MPC technology.

“Telegram has become a cornerstone for crypto adoption by offering intuitive and accessible solutions. With COCA Wallet’s integration, we’re empowering users to explore the world of digital currencies, whether they’re experienced users or just starting out,” said Vasili Paula, CEO at COCA Wallet.

With Telegram’s ongoing innovations and COCA’s cutting-edge features, managing digital assets has never been easier, safer, or more accessible.

Getting started with COCA Wallet on Telegram is simple. Users can visit the step-by-step guide on the COCA blog, or dive right in and try COCA on Telegram here.

About COCA
COCA is a next-generation crypto super app designed to simplify and secure the crypto experience for users worldwide. With advanced features and seamless integration, COCA is shaping the future of digital asset management. Learn more at coca.xyz.

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