AI Startup Noogata Shuts Down After Raising $28 Million
Noogata, an AI startup founded in 2019 as part of Team8’s venture-building platform, is shutting down after failing to meet key business milestones and secure new funding. The company had raised $28 million to date from investors including Allon Ventures, Team8, Eight Roads, Inference Partners, and Skylake Capital.
Noogata developed an AI-powered organizational platform designed to provide insights, forecasts, and data-driven recommendations across various departments such as sales, operations, finance, and marketing. The company had notable clients including Colgate Palmolive, PepsiCo, mDesign, and Bugatti. At its peak, Noogata employed over 40 people when it raised a $16 million series A in April 2022, but this number dwindled to 10 employees at the time of closure.
The decision to shut down comes after Noogata’s failure to meet its business milestones. The company is expected to seek a buyer for its underlying technology. Noogata was founded by Assaf Egozi, who served as CEO, and Oren Raboy, CTO. Egozi brings over 20 years of management experience, including 10 years at McKinsey, while Raboy has significant technological and entrepreneurial experience, having worked at Cisco and co-founded Totango.
This development highlights the challenges faced by AI startups in maintaining growth and securing continued funding. Noogata’s closure follows a pattern seen in other Israeli high-tech companies experiencing layoffs and shutdowns in 2025.
