Tel Aviv-based SemantiNet, a semantic web startup, has raised a $1.7 million first round led by Giza Ventures, reports Globes Online. Other investors in the firm include ICQ founder Yossi Vardi, Jeff Pulver, Sir Ronald Cohen, Robert Imershein and Mordechai Ben-Shach. The company is still in beta and its site offers few details, except that it promises a new way of experiencing the internet. CEO Tal Keinan was previously at Morgan Stanley.