Two Startups Reject Web Summit Money in Fallout From Ex-CEO’s Remarks

New Web Summit CEO, Katherine Maher, at the first day of the event on November 13 in Lisbon. Photo by Getty.

Web Summit attempted to put a turbulent chapter behind it this week, drawing more than 70,000 attendees to the annual tech conference in Lisbon. But the fallout from its former CEO's remarks isn’t over.

Two Israeli startups, Lasso Security and Ask-AI, are rejecting the investments of the tech conference’s venture arm after former Web Summit CEO Paddy Cosgrave referred to Israel’s retaliatory strikes on Gaza as “war crimes.” Startups rarely attempt to return investments after the money is wired, underscoring how the conflict is dividing companies and institutions and their backers.