Israel Active

Israeli Venture Capital firm Cyberstarts (see previously) has launched its third VC fund - a $200 million Opportunity Fund, for follow-on investments in growing cybersecurity companies. Cyberstarts’ first fund is one of the world's best performing funds, averaging 300% annual return.

Israeli crowdfunding platform OurCrowd is hosting a virtual event “New Frontiers in 3D Printing” on 8th March at 6pm Israel time (11am ET). Speakers include from Israeli 3D startups (Oshi), and and features a new video about the Plantish 3D-printed vegan salmon.

Israeli food giant Tnuva has launched a Tnuva NEXT - new venture capital fund focused on investments in food tech startups and companies. Tnuva invested some NIS 30 million in 2021 including the Fresh.Start incubator in Kiryat Shmona (see previously).

Israel’s Economy Minister, Orna Barbivai, visited Morocco to sign "a historic cooperation agreement", aiming to establish the economic foundations of trade relations between the two countries.  Barbivai (see previously) is an ex-IDF Major General. Her husband was born in Morocco.

Israeli satellite communications provider and its partners are investing NIS 400 million to launch its “Earth & Beyond” incubator to support Israeli startups developing deep tech space technology.  The Israeli government will also fund up to 85% of the costs of those startups.

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Israel’s Cheq (see previously) has joined the Unicorn club by raising $150 million at a valuation of $1 billion.

Danish toymaker Lego has announced plans to open its first store dedicated to Legos in Tel Aviv “before the summer”.  There are 628 Lego stores worldwide, planned and designed by Lego in a consistent way. Israeli stores will be identical to those overseas.

Israel’s Innovation Authority has awarded a total of NIS 500 million to five Israeli incubators operating in the fields of health tech, food tech, space tech and energy. Startups operating in each incubator will each receive up to NIS 6.5 million per project. It will promote early-stage technical projects.

Google is investing $25 million over 5 years, to extend its existing initiatives for attracting minorities to Israel’s hi-tech sector. They include Adva, a two-year computer science training program for Jewish seminary girls, and a new Tsofen program to integrate Arab engineering students.