Israel Active

Israeli-founded is to acquire US-based Attivo Networks for . Israel’s has acquired UK’s Tebex for .

Israeli fintech company Rapyd (see previously) has reached a valuation of $15 billion, making it Israel’s highest value private company. Rapyd employs 600 people globally, including 330 in Israel.

Checkers Drive-In Restaurants has selected Presto’s automated voice ordering for all its corporate-owned drive-thru restaurants. Developed using the conversational AI technology from Israel’s Hi Auto (see ) it aims to be deployed at all Checkers & Rally’s US restaurants in 2022.

Ashdod Port Company has partnered with global venture capital firm 500 Global to launch a new accelerator program dedicated to maritime tech. Local startups include DockTech (see previously), Naval Dome (cybersecurity at sea) and Eco Wave Power (see previously).

Trade between New Jersey and Israel has soared during the pandemic. Exports to Israel increased by 41% to $461 million. Imports rose to 1.9 million. New Jersey exports to Israel consumer products, medical supplies, and natural products. Imports include energy supplies and minerals.

Warming ties between Israel and Egypt have led to the expansion of air travel between the two countries.  A new route from Tel Aviv to southern Sinai resort of Sharm el Sheikh will commence in April. It follows the recent meeting between the Israeli Prime Minister and Egyptian President.

Mary Ng, Canada’s Minister of International Trade, completed a 3-day visit to Israel. She had productive meetings with Israel’s Economy & Industry Minister and its Minister of Innovation, Science and Technology. Discussions centered on building up trade and technology relations.

Good article from Shoshana Bryen on Israel’s increasing impact diplomatically and economically. It cites negotiating between Russia and Ukraine, relations with Turkey, joint military exercises, and the EastMed pipeline.

Israel’s leading VC’s and financial institutions were asked to rank Israel’s Most Promising Fintech Startups - sponsored by Citi and Israel Discount Bank. The 8 categories were headed by Balance, Access Fintech, 8Fig, Parametrix Insurance, Graulate, Noname Security, ZenGo and Sedric.

Israel’s budget deficit fell to 2.2% of GDP for the 12 months to Feb 2022, compared to 4.5% at the end of 2021. In the month of Feb itself, the government had a rare budgetary surplus of NIS 4 billion due to high revenues from taxes, although Israel’s tax burden is the sixth lowest in the OECD.