Israel Active

One of the reasons so many Israeli startups have succeeded despite the pandemic is because their employees can work remote from their main Israeli offices. This article highlights several examples of where startups have even allowed their staff to work overseas but retain their jobs in Israel.

Israel’s HopOn (see previously) is expanding into Europe with its mobile payment solutions for public transportation.  It has just acquired UK-based ECR, a payment solution for public transit and leisure venues, for $10 million. HopOn operates the payment system for Israel’s Rav-Kav service.

British investment firm Consensus Business Group (CBG) is investing $20 million in Israeli-based medical device incubator MEDX Xelerator (see previously). CBG said the global epidemic requires development of advanced medical technologies. CBG has $500+ million invested in Israel.

Israel’s reserves of foreign currency reached a new record of over $201 billion at the end of July – an increase of over $1.5 billion on its end of June level.

Fitch Ratings has reaffirmed Israel’s A+ rating with a stable outlook, citing its “strong external finances and solid institutional strength.” Its report said Israel’s economy stood up to pandemic shock relatively well, due to Israel’s high-tech industries and successful vaccination campaign.

Israel’s new Gulf Port of Haifa is to begin operations on Sep 1st. Built entirely offshore by Israeli companies Shapir Engineering and Ashtrom, it will handle ships 400 meters long and 62 meters wide that carry 18,000+ containers. Another new Israeli port at Ashdod is set to be completed by end 2021.

Israel’s Fireblocks (see previously) has developed a platform based on blockchain technology for customers to manage their digital assets in a secure wallet. Fireblocks has just raised $310 million to give it a market value of $2 billion and the financial status of a “Unicorn”.

Israel’s Oktopost is a fully integrated platform that helps companies use social media to generate leads, acquire customers, and boost revenue from marketing campaigns. Customers include Panasonic, ACI, NICE, Fujitsu and Sisense.

Israel’s Propel has developed (PR) software that helps improve the workflow and results of agency and in-house PR professionals. It allows monitoring and analysis of campaigns and is compatible with both Gmail and Outlook. Focusing on the US and UK, its 100+ customers include Google and The Daily Mail.

Israel’s YOOBIC is designed to improve productivity and motivation of a company’s front-line (deskless) workers. Its platform is available in 25 languages and used by 200+ companies in 80 countries including Boots, Lancôme, Lacoste, Logitech, Puma and Sanofi.