Israel Active

raised ; raised (new Unicorn); raised ; raised ;

Israel’s Elementor has acquired Israel’s Strattic, a web development and hosting solutions company for several million dollars.

Israel’s Truvid is an online video platform that connects content creators with media providers such as websites, applications, connected TV etc. Publishers use Truvid to monetize their sites and distribute content around the globe. Truvid gets the right video to the right audience.

Israel’s Duve helps hoteliers and hospitality professionals customize guest journeys and build a digital personalized experience. Prospective guests allow Duve to pass on details such as reason of visit, type (e.g., family/business/romantic) interests, language, travel method, food preferences etc.

Israel-based Pangea has won a contract to supply technology to the Electoral Commission of Jamaica to support the establishment and maintenance of a biometric voter registry. Jamaica has four million voters and Pangea will help eliminate the risk of voter fraud.

Princeton’s Center for Jewish Life-Hillel is a partner in the planning and funding of Israel Tiger Trek, which is focused on Israeli entrepreneurs based in New York. It has led to startups like chef app WoodSpoon, and urban sharing platform TULU (see previously).

The large number Unicorns (private companies valued at $1 billion+) is making it difficult to identify promising stable ventures. A new term “Centaur” should be used to designate those Unicorns with an Annual Recurring Revenue (ARR) of at least $100 million. There are 25 Israeli ones.

The Organization for Economic Co-operation and Development (OECD) has slashed its predictions for global economic growth due to the Ukraine situation and the Covid-19 pandemic. But the OECD expects that Israel will maintain a healthy 4.8% growth in 2022, compared to 3% in the OECD.

Israel's sovereign wealth fund will start operating on June 1st, now that taxes on profits from natural gas and other resources have passed the 1-billion-shekel minimum. Profits from the fund will be allocated for Israel’s social, economic, and educational purposes.

Saudi Arabia has lifted its ban on Israelis entering the country on Israeli passports. Dozens of Israeli hi-tech businesspeople have since visited Riyad and Neom and have concluded two multimillion-dollar desert agriculture deals, in addition to a medical equipment contract.