update deskIsrael News

Israeli startups raise $2.6b since Jan. 1

In April alone, Israeli startups raised $1 billion. The actual figure is likely higher as some startups keep their funding private.

Credit: Pixabay.
Credit: Pixabay.

Despite the ongoing war, Israeli startups raised $2.6 billion in the first four months of 2024.

In April alone, startups raised $1 billion.

The actual total is likely higher as some companies prefer not to publicize the funding they’ve received, Israeli business site Globes reported.

In March, data security company Cyera led in financing, raising more than $300 million, and Island, an enterprise browser security company, raised $175 million.

In 2023, privately held Israeli tech firms raised just $6.9 billion, down from $15 billion in 2022 and a record $25.6 billion in 2021, Globes reported.

Start-Up Nation Central, a nonprofit that promotes Israeli innovation, launched a #nomatterwhat campaign to show the world that Israeli high-tech is open for business despite the war.

The tech industry accounts for 18% of Israel’s GDP and employs about 14% of its workforce, according to the Israel Innovation Authority.

The sector provides 50% of Israel’s exports and 30% of its income tax revenue.

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