Israel Active

There have been few new Unicorns in the current economic climate. Israel’s Vesttoo has just become one, having just raised $80 million at a $1 billion valuation. Vesttoo has developed a global insurance risk transfer platform. It is profitable and plans to use the funds to make acquisitions.

U.S.-based ICI Fund has announced the closing of ICI Fund II, a new fund set to include $50 million solely for early-stage Israeli AI companies and companies founded by Israeli entrepreneurs. ICI additionally said it will increase investments in women-led funds and in women-led companies.

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Energy producer Energean has announced the discovery of 7 - 15 billion cubic meters (BCM) of natural gas at its Hermes exploration well in the Mediterranean Sea off Israel.

The 'Azerbaijan Investment Company' has signed a memorandum of understanding with Israel’s 'I.D.E. Water Assets Ltd' (IDE Technologies - see previously) to establish a plant for desalinating Caspian Sea water in Azerbaijan.

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Israeli semiconductor startup was acquired by UK’s Alphawave IP for . Israeli-owned was acquired by Lego’s holding company KIRKBI A/S for .

Here is one example of an Israeli embarking on a completely new career. Shlomo is a full-stack developer for the fintech firm Capitolis. But just five years ago, he was a camel rancher with little-to-no technical experience.

Israelis are finally getting the message that they do not need to slave away at low-paid, dead-end jobs when there are thousands of well-paid hi-tech jobs available. A survey by Practicum Israel showed over 60 per cent of respondents moving into the hi-tech sector due to high living costs.

The government of the Netherlands has selected Israel’s Atriis as their global managed travel technology platform for the next eight years. The Dutch government will use the Atriis platform to book business travel for more than 12,000 travelers worldwide.