Israel GDP Expands More than Initially Expected
The economy of Israel grew an annualized 3.1% in the first quarter of 2023, compared with a preliminary reading of 2.5%, a second estimate showed. Fixed investment rebounded 15.3% (vs -0.9% in Q4) and foreign trade contributed positively to the GDP, as imports dropped by 6.1% (vs -7%), while exports fell at a softer 0.3% (vs -8.5%). Meanwhile, private consumption shrank 1.7% (vs 10.2%) and government spending eased to 1.9% from 2.7%. On a quarterly basis, GDP advanced 0.8%, slightly above an earlier reading of 0.6%, and following a 1.3% expansion in Q4 2022.
Source: https://tradingeconomics.com/israel/gdp-growth-annualized
First Quarter to May 2023 was (still) Incredible
Israeli new businesses brought $550 million up in May 2023, as per official statements seen by "Globes." The figure might be more as certain organizations usually like to stay in secrecy and some of the time don't plug the ventures they have gotten.
Last year Israeli new businesses brought $10.9 billion up in the principal half of the year and just $4.1 billion in the final part of the year, as the sharp falls on Nasdaq affected the valuations of development organizations. The sum brought up in May 2023 is reliable with the sums new companies were bringing up in the last option part of 2022.
In May, bigger funding adjusts were driven by vehicle examination solitions organization UVEye, which raised $100 million. In other enormous funding adjusts last month, heart siphon organization Fuchsia Clinical raised $55 million, cell phone as clinical gadget organization Healthy.io raised $50 million and insurtech organization Novidea raised $50 million.
Israeli Agritech More than 400 Start-ups
Agritech startups in Israel heavily populate the list of the world's leading agriculture technology companies every year. Currently, there are more than 400 Israeli startups serving the agritech industry.
The strength of Israel’s AgriFood Tech sector results from a variety of reasons, including government support and the lessons learned from the local shortage of natural resources, which fostered innovative methods and technologies for “growing more with less” long before it became one of the world’s pressing challenges. Over the past few years, there has been a global move towards data-enabled technology and the Internet of Things, technologies where Israel is acknowledged as a global leader. The range of Israel’s AgriFood Tech innovation capabilities is broad and varied, including soil and plant sensors, cutting-edge swarming drones, autonomous robots, plant genetics platforms, cultured meat, alternative proteins, smart irrigation, and big data analytics software.
Israeli Foodtech Keeps Churning
While the foodtech appears to be suffering from a depression, Israel has been determined to feed its ecosystem. The evidence is in its investment pudding 230 foodtech companies in Israel are presently exercising the country’s strength as a incipiency nation in the sector.
For starters, the sector can boast further than$1.1 billion invested in Israeli foodtech companies in the last two times. 2021 saw$ 618 million and 2022 saw$ 473 million, the large maturity of which went to indispensable proteins, followed by new constituents. Between 2017- 2022, a aggregate of$1.4 billion was fitted into the ecosystem.
While the absolute value of the investment fell by 23, this is stronger than the 50 drop seen across all sectors. In fact, while all sectors have seen an overall 40 drop in the number of deals, the number of Israeli foodtech deals actually increased by 26. It indicates that despite lower plutocrat being invested into tech, the plutocrat that's being invested is being spread across lower portions of companies in the volition protein sector.
The result of tattling out similar investment in foodtech means that “ further than 200 Israeli food startups are cooking up results for advanced quality, healthier, and more sustainable food, ” according to Start- Up Nation Central. Thenon-profit association promotes Israeli entrepreneurship and helps connect leaders in the sector with openings. It has handed CTech with a collection of companies across the diapason of the sector upstream companies that concentrate on Agtech all the way down to the downstream, which is concentrated on foodtech.
The sector receives government support from the likes of the Ministry of Health, the Ministry of the Frugality, the Ministry of Science, Technology, and Space, and the Israel Innovation Authority. Accelerators and incubators include Fresh Start and The Kitchen. VCs and public request finances include JVP, OurCrowd, Hanaco, and Millennium Foodtech. Israel pots similar as Tnuva and Strauss have a hand in the ecosystem, as well as transnational pots similar as Pepsico, Nestle, and Unilever.
And let’s not forget the benefactions from Israel’s academia, similar as the Technion Israel Institute of Technology, Ramot Tel Aviv University, Weizmann Institute of Science, and the Hebrew University of Jerusalem.
Affiliated papers
What’s cuisine? Israeli celebrity cook invests in foodtech incipiency GreenOnyx
" We see one value chain between agtech and foodtech"
Foodtech the innocently nutritional sector
Both in terms of the number of deals and quantum of plutocrat, the indispensable protein companies are easily the main course. Companies like Aleph granges, Wilk, SavorEat,Meat.The End, Remilk, Zero Egg, and More Foods are working on replacing meat and dairy in everyday foods. Last month CTech ate burgers and egg omelets handed by these companies during an exhibit in Tel Aviv. While not relatively exact clones of the dishes we know and love, utmost companies show clear eventuality as a licit indispensable food source for those more conscious of their carbon vestiges and fleshly health.
A many weeks ago, CTech published an op- ed named “ Foodtech the innocently nutritional sector ”. It came from the thesis that the sector offers innately good openings an enhancement in beast weal, it's environmentally friendly, and it can be more nutritional than reused foods presently set up on our shelves.
Last time, we described 3D- published burgers as “ technically perfect, albeit creatively void ” after a taste test. moment, advancements are being made to insure mass- published foods maintain a position of creativity among the dishes that make them popular to begin with. What good is a burger at a Michelin- star eatery if it's published the same way as a New York restaurant? As foodtech continues to evolve, these questions will be answered in the form of new constituents that will be replacing traditional bones .
numerous are suggesting the appetite is over for the foodtech mess. Israel is showing there’s a bigger thirst than ever.
Turbo Charged Israeli Scene
Tel Aviv 2nd in Whole EMA
Tel Aviv has as of late arisen as the second-best startup environment in the whole EMEA locale, with just London, Britain in front of it. Israel's startup environment has developed at a noteworthy pace of 350% somewhere in the range of 2018 and 2022, outperforming even New York, London, and the Cove Region. As far as network protection, Tel Aviv positions third internationally, following just New York and San Francisco.
1. Sentra
Year Established: 2021
HQ: Tel Aviv, Israel
Size: 51-100
Pioneers: Asaf Kochan, Ron Reiter, Yair Cohen, Yoav Regev
Sentra is an Israeli startup that was established in 2021 and is right now situated in Tel Aviv. The organization gives a network safety stage that empowers organizations to acquire exhaustive perceivability of their cloud frameworks and oversee cloud security proficiently. Security groups can order and shield delicate data moving through their cloud organizations, with programmed notices of any weaknesses to permit quicker danger reaction times.
Sentra's group is confided in overall by various organizations, including huge associations, for example, Papaya Worldwide, Stackline, and Domestika, who depend on their security stage. Expanding on their continuous achievement, the group ventured into the US market in 2022 and is presently offering their types of assistance across the states.
In the simple a long time since its establishment, the group at Sentra has been exceptionally successful in raising startup financing, with a sum of $53 Million being raised across different rounds. These subsidizing adjusts were upheld by a gathering of 11 financial backers. The organization's latest subsidizing round occurred in January 2023. During this Series A, the group effectively raised $30 Million to additional scale the business.
2. Groundcover
Year Established: 2021
HQ: Tel Aviv, Israel
Size: 11-50
Originators: Shahar Azulay, Yechezkel Rabinovich
Groundcover is one more startup in Israel that was established in 2021 and is situated in the city of Tel Aviv. The organization offers a product arrangement that has practical experience in application observing for K8-fabricated applications. This arrangement furnishes clients with upgraded recognizability into their cloud surroundings, without bringing about massive expense increments, man-hour necessities or scaling troubles. The product clients can establish their applications and conditions with insignificant difficulties.
Groundcover's checking arrangement is versatile to any climate, including EKS, AKS, and GKE, pursuing it a favored decision among numerous respectable organizations around the world, like Lemonade, SafeBreach, and Dazz. On account of its great outcomes and handiness, the startup has encountered enormous development since its foundation.
Since its commencement, Groundcover has gotten huge startup subsidizing. Its latest subsidizing round - Series A-was held in September 2022, which empowered the organization to raise $20 Million. These assets will help further foster the organization's items and grow its business into new business sectors.
3. ARMO
Year Established: 2018
HQ: Tel Aviv, Israel
Size: 51-100
Originators: Benyamin Hirschberg, Shauli Rozen
ARMO is an Israeli startup established in 2018. The organization works in network protection and has presented the very first open-source security stage for Kubernetes that offers start to finish security. Their foundation guarantees each group and microservice is tied down from the place of creation to organization, reliably. Clients can get their Kubernetes climate in three minutes or less.
The organization brags of more than 50,000 clients who have incorporated the product with an extensive variety of other DevOps instruments, including Slack, AWS, GitHub, and others, to improve the viability of the stage across associations.
ARMO has been profoundly fruitful in getting startup subsidizing, having raised a sum of $34.5 Million to date, because of help from four financial backers. Most of this financing was accomplished during a Series A round that occurred in April 2022, during which, the organization figured out how to raise a sum of $30 Million. These assets have empowered ARMO to build its development direction as a business and further work on its contributions.
4. Public square
Year Established: 2019
HQ: Tel Aviv, Israel
Size: 51-100
Originators: Bar Mor, Lior Dolinski, Noam Kahan
Marketplace is a comprehensive land speculation the executives stage. Established in 2019, Public square aides general accomplices (GPs) and land trading companies oversee arrangements and valuable open doors. Their natural stage furnishes financial backers and firms with all that they need to deal with their ventures - from contributions, property portrayals, and high level exploration, to record the board, financial backer reports and assessment.
The group at Marketplace has a broad comprehension of the land scene. They influence innovation and robotization to give exact and live updates on resource execution and market patterns, empowering firms to go with better speculation choices. Finally, Public square focuses on straightforwardness and security to guarantee that all speculation and monetary information is secure.
The group at Marketplace has done a generally excellent occupation of bringing startup financing up over the most recent 4 years, with a sum of $29.9 Million raised through 12 financial backers. The organization's most amazing subsidizing round occurred in August 2022, when they raised $20 Million from three financial backers. These assets have assisted them with expanding their headcount and work on the nature of the product stage.
5. Adjusted
Year Established: 2021
HQ: Tel Aviv, Israel
Size: 11-50
Organizers: Lady Aga, Lady Deitsch, Yotam Sela
Adjusted is a startup that was established in Israel in 2021. The organization's one-stop stage gives every one of the essential materials to bring a deals to a close arrangement, disposing of the requirement for muddled document sharing and making it simple for clients to say "OK" to your offers.
Adjusted's foundation is famous with the absolute most notable programming organizations on the planet, including HubSpot, Deel, and EasySend. Its prevalence originates from its capacity to assist deals and promoting groups with winning more arrangements and installed new clients quicker.Tel Aviv has as of late arisen as the second-best startup environment in the whole EMEA locale, with just London, Britain in front of it. Israel's startup environment has developed at a noteworthy pace of 350% somewhere in the range of 2018 and 2022, outperforming even New York, London, and the Cove Region. As far as network protection, Tel Aviv positions third internationally, following just New York and San Francisco.
1. Sentra
Year Established: 2021
HQ: Tel Aviv, Israel
Size: 51-100
Pioneers: Asaf Kochan, Ron Reiter, Yair Cohen, Yoav Regev
Sentra is an Israeli startup that was established in 2021 and is right now situated in Tel Aviv. The organization gives a network safety stage that empowers organizations to acquire exhaustive perceivability of their cloud frameworks and oversee cloud security proficiently. Security groups can order and shield delicate data moving through their cloud organizations, with programmed notices of any weaknesses to permit quicker danger reaction times.
Sentra's group is confided in overall by various organizations, including huge associations, for example, Papaya Worldwide, Stackline, and Domestika, who depend on their security stage. Expanding on their continuous achievement, the group ventured into the US market in 2022 and is presently offering their types of assistance across the states.
In the simple a long time since its establishment, the group at Sentra has been exceptionally successful in raising startup financing, with a sum of $53 Million being raised across different rounds. These subsidizing adjusts were upheld by a gathering of 11 financial backers. The organization's latest subsidizing round occurred in January 2023. During this Series A, the group effectively raised $30 Million to additional scale the business.
2. Groundcover
Year Established: 2021
HQ: Tel Aviv, Israel
Size: 11-50
Originators: Shahar Azulay, Yechezkel Rabinovich
Groundcover is one more startup in Israel that was established in 2021 and is situated in the city of Tel Aviv. The organization offers a product arrangement that has practical experience in application observing for K8-fabricated applications. This arrangement furnishes clients with upgraded recognizability into their cloud surroundings, without bringing about massive expense increments, man-hour necessities or scaling troubles. The product clients can establish their applications and conditions with insignificant difficulties.
Groundcover's checking arrangement is versatile to any climate, including EKS, AKS, and GKE, pursuing it a favored decision among numerous respectable organizations around the world, like Lemonade, SafeBreach, and Dazz. On account of its great outcomes and handiness, the startup has encountered enormous development since its foundation.
Since its commencement, Groundcover has gotten huge startup subsidizing. Its latest subsidizing round - Series A-was held in September 2022, which empowered the organization to raise $20 Million. These assets will help further foster the organization's items and grow its business into new business sectors.
3. ARMO
Year Established: 2018
HQ: Tel Aviv, Israel
Size: 51-100
Originators: Benyamin Hirschberg, Shauli Rozen
ARMO is an Israeli startup established in 2018. The organization works in network protection and has presented the very first open-source security stage for Kubernetes that offers start to finish security. Their foundation guarantees each group and microservice is tied down from the place of creation to organization, reliably. Clients can get their Kubernetes climate in three minutes or less.
The organization brags of more than 50,000 clients who have incorporated the product with an extensive variety of other DevOps instruments, including Slack, AWS, GitHub, and others, to improve the viability of the stage across associations.
ARMO has been profoundly fruitful in getting startup subsidizing, having raised a sum of $34.5 Million to date, because of help from four financial backers. Most of this financing was accomplished during a Series A round that occurred in April 2022, during which, the organization figured out how to raise a sum of $30 Million. These assets have empowered ARMO to build its development direction as a business and further work on its contributions.
4. Public square
Year Established: 2019
HQ: Tel Aviv, Israel
Size: 51-100
Originators: Bar Mor, Lior Dolinski, Noam Kahan
Marketplace is a comprehensive land speculation the executives stage. Established in 2019, Public square aides general accomplices (GPs) and land trading companies oversee arrangements and valuable open doors. Their natural stage furnishes financial backers and firms with all that they need to deal with their ventures - from contributions, property portrayals, and high level exploration, to record the board, financial backer reports and assessment.
The group at Marketplace has a broad comprehension of the land scene. They influence innovation and robotization to give exact and live updates on resource execution and market patterns, empowering firms to go with better speculation choices. Finally, Public square focuses on straightforwardness and security to guarantee that all speculation and monetary information is secure.
The group at Marketplace has done a generally excellent occupation of bringing startup financing up over the most recent 4 years, with a sum of $29.9 Million raised through 12 financial backers. The organization's most amazing subsidizing round occurred in August 2022, when they raised $20 Million from three financial backers. These assets have assisted them with expanding their headcount and work on the nature of the product stage.
5. Adjusted
Year Established: 2021
HQ: Tel Aviv, Israel
Size: 11-50
Organizers: Lady Aga, Lady Deitsch, Yotam Sela
Adjusted is a startup that was established in Israel in 2021. The organization's one-stop stage gives every one of the essential materials to bring a deals to a close arrangement, disposing of the requirement for muddled document sharing and making it simple for clients to say "OK" to your offers.
Adjusted's foundation is famous with the absolute most notable programming organizations on the planet, including HubSpot, Deel, and EasySend. Its prevalence originates from its capacity to assist deals and promoting groups with winning more arrangements and installed new clients quicker.
Q1 2023 Israel Update
According to the Start-Up Nation Policy Institute (SPNI), investment in Israeli privately held tech startups fell to barely $1.7 billion in the first quarter of 2023. According to IVC-Leumitech, privately held tech businesses in Israel raised $15 billion in 2022 after raising a record $25.6 billion in 2021, more than double the $10 billion they raised in 2020, which was also a record. Israeli startups are unlikely to raise more than $7 billion this year at the current pace.
Israel has the highest density of startup companies
WHAT TO EXPECT IN 2023
Investment in Israeli privately-held tech companies slowed to just $1.7 billion in the first quarter of 2023, Start-Up Nation Policy Institute (SPNI) reports. Israeli privately-held tech companies raised $15 billion in 2022, according to IVC-Leumitech, after raising a record $25.6 billion in 2021, more than double 2020's figure of $10 billion, which was itself a record. At the current rate, Israeli startups are unlikely to raise more than $7 billion this year.
However, despite this recent slowdown in investment, there are still numerous advantages to investing in Israeli startups. Israel has the highest density of startup companies in the world, with more startups per capita than any other country. This means that the country has a culture of innovation, and is constantly producing new and exciting companies that are making waves in industries ranging from biotech to cybersecurity to artificial intelligence.
Israeli startups are also global from day one. With a relatively small domestic market, Israeli entrepreneurs are often forced to look abroad for customers and partners early on. This means that they are well-positioned to scale globally, with a mindset focused on international expansion from the very beginning.
Furthermore, Israelis are serial entrepreneurs. Many successful Israeli entrepreneurs go on to found multiple companies, bringing with them their experience, networks, and insights from their previous ventures. This means that there is a depth of knowledge and expertise in the Israeli startup ecosystem that is hard to find elsewhere.
In addition to this, there is a strong culture of R&D in Israel. The country spends a higher percentage of its GDP on research and development than any other country, according to the OECD. This has helped to create a highly educated workforce, with a significant portion of the population holding advanced degrees in science and technology fields.
The Israeli government is also supportive of startups. The country offers a range of incentives for entrepreneurs and investors, including tax breaks and grants, as well as a supportive regulatory environment. This has helped to foster a thriving startup ecosystem in the country, with a well-developed infrastructure for supporting early-stage companies.
Israel is also a test market for global expansion. The country's small size and diverse population make it an ideal place to test new products and services, before scaling up to larger markets. This means that Israeli startups are often well-positioned to enter new markets with a proven product or service.
Finally, Israel is a hub for innovation. The country is home to a range of world-class universities and research institutions, as well as multinational corporations that have established R&D centers in the country. This creates a rich ecosystem of talent, ideas, and resources that is hard to replicate in other parts of the world.
In summary, investing in Israeli startups offers a range of advantages, including access to a culture of innovation, a global mindset, a highly educated workforce, a supportive regulatory environment, and a wealth of resources for R&D and testing. While the recent slowdown in investment may give some investors pause, the long-term potential of the Israeli startup ecosystem remains strong.
Yes the Funding Was Down in 2022
WHAT TO EXPECT IN 2023
2022 is behind us now and the end of year reports are trickling in. 2022 was a year of two tales in Israeli tech – the first half, when it seemed that it was ‘business as usual’ and the second half, when it was clear it’s everything but usual. That’s of course part of a global trend. On a global level, venture financing of private companies dropped 33% year over year, from a record $733B in 2021 to $490B in 2022.
How will Israeli tech fare in 2023?
Israeli tech firms brace for more cost savings, downsizing to get through global slowdown
If 2021 was the year of the flurry of billion-dollar tech companies, or unicorns, 2022 was largely about dealing with the aftermath of the boom and a changed economic reality of higher borrowing costs and the end of the cheap money era.
So, what does 2023 hold in store? It looks like it is going to be a year of recalibration for tech companies to reset systems.
Tech investors and entrepreneurs are treading with caution into 2023 with higher inflation and rising interest rates expected to take an even bigger toll in the first half of the year and companies brace for the likelihood of a global economic downturn, or even a recession.
New fund to invest $125 million in Israeli Startups
Focus on investments in early-stage companies
Earth & Beyond Ventures, which will focus on investments in early-stage companies, is backed by the likes of Corning, Kyocera, Samtec, and Spacecom
Meir Orbach14:00, 09.02.23
Israel’s 3 new technology trends for 2023
Israel Innovation Authority approves funding for new consortiums: integrated photonics, metamaterials and metasurfaces, and black soldier fly farming.
Curious? So are we! Can't wait to see what comes from these new areas.
Israel - Technology on Steroids
How technologically advanced is Israel?
Over the past few decades, Israel has established itself as one of the most technologically advanced countries in the world. With a population of just over 8 million, there are an incredible number of more than 4,000 technology companies launching per year in the country.
MEDICAL AND HEALTH
Israeli Health/Medtech to Watch
Nanox Medical researches and develops breakthrough X-ray technology that generates unique monochromatic X-rays with very high fluency.
Novocure is an oncology company pioneering a novel therapy for solid tumors called Tumor Treating Fields, or TTFields. TTFields are low intensity, alternating electric fields within the intermediate frequency range. TTFields disrupt cell division through physical interactions with key molecules during mitosis. This non-invasive treatment targets solid tumors.
EarlySense develops signal-processing technology, offers EverOn, a contact-free and early detection patient supervision system.
OrCam’s mission is to harness the power of artificial vision by incorporating pioneering technology into a wearable platform which improves the lives of individuals who are blind, visually impaired, and have reading difficulties. OrCam has created a technologically advanced device unique in its ability to provide visual aid through a discreet wearable platform and simple easy-to-use interface which serves to enhance the daily lives of people with vision loss.
Memic has set out to transform robotic-assisted surgery, with proprietary technology that has the potential to far surpasses today’s best solutions. Providing unprecedented access and maneuverability, our Memic’s Hominis surgical platform features miniature, humanoid-shaped robotic arms with human dexterity, superhuman flexibility, and 360˚ articulation.
Sight Diagnostics aims to bring affordable, scalable and accurate blood diagnostics to the point-of-care, thereby accelerating better patient outcomes and improving healthcare for all. Sight has developed an artificial intelligence-driven platform for blood analysis and infectious disease diagnostics based on its proprietary machine-vision technology.
Healthy.io de Dip.io, a home-based urinalysis kit that turns a smartphone into a clinical-grade diagnostic device. It’s the first smartphone-based urine test to secure clearance as a Class 2 device.
AIdoc helps radiologists work through their case load faster, just in time to make a difference. We reworked deep learning algorithms to analyze imaging and clinical data more effectively, and can produce highly accurate scan anomaly detection. We combine the analyzed scans with patient data, streamlining the radiologists' workflow and freeing them to do what they do best.
ReWalk Robotics is an innovative medical device company that is designing, developing and commercializing exoskeletons allowing wheelchair-bound individuals to stand and walk once again. Our mission is to fundamentally change the Quality of Life for individuals with lower limb disability through the creation and development of market leading robotic technologies.
A disruptive mobile-health platform and device, allowing anyone to perform self physical examination and remote diagnosis.
Israel First 5 Months of 2022
Israeli secretly held tech organizations have brought $8.1 billion up in the initial five months of 2022. Israeli new businesses brought $1.75 billion up in May 2022, as per official statements seen by "Globes." The figure might be more as certain organizations normally like to stay in covertness and some of the time don't expose the speculations they have gotten. Israeli secretly held tech organizations raised a record $25.6 billion out of 2021, as indicated by IVC, over two times 2020's figure of $10 billion, which was itself a record. Israeli new companies brought $5.6 billion up in the main quarter of 2022, as per IVC, somewhat off speed to surpass last year's record. New businesses brought just $750 million up in April, a very low figure that was halfway ascribed to the Passover occasions, which fell during the month. Over the course of the last year, the typical month to month raise has been more than $2 billion, so that last month's lower figure recommends that the emergency expected following the enormous misfortunes supported by tech organizations on Wall Street has separated down to pre-IPO secretly held tech organizations. All things considered $1.75 billion would have been a record figure for 2020, in spite of the fact that it likely could be that the emergency is just barely starting. Israeli new companies have now brought $8.1 billion up in the initial five months of 2022. In May, the significant supporting rounds that were finished were driven by network protection organization Semperis, which raised $200 million. Information disclosure organization Monte Carlo raised $135 million, and business insight organization Pyramid Analytics raised $120 million. Blockchain organization Starkware raised $100 million, fintech organization Unit Finance raised $100 million, web based preparing organization Masterschool raised $100 million, and transport arranging organization Optibus raised $100 million. Other significant supporting rounds were finished by coronary illness the executives organization Hello Heart, which raised $70 million, shopping in-store information stage Nexite, which raised $67 million, and incontinence therapy organization Bluewind Medical, which raised $64 million. Development tech organization Buildots raised $60 million, independent designer network A-Team, which raised $55 million, and designing effectiveness stage LinearB, which raised $50 million.
