Israel Active

Cyber Defense Magazine’s named Israel’s Noname Security in its 2021 Top 10 Black Unicorn list of cybersecurity startups likely worth $1 billion in 3 years. Israel’s NanoLock, Adaptive Shield, XM Cyber and Siemplify were in the Top 10 Baby Black Unicorn list of $1 billion value in 3-5 years.

Israel’s cumulative government deficit for the twelve months to end July 2021 was 9.3% of GDP, down from 11.7% at the end of 2020. The main reason is increased revenue, up nearly 30% in 2021 compared to 2020. The government is actually spending more in 2021, mostly due to pandemic assistance.

Taiwan’s largest software incubator, Innovation to Industry (see previously), has selected 21 Israeli companies. It aims to integrate Israeli software with Taiwan’s hardware, including computers, LCDs, semiconductors and phones, as well as in Taiwan’s healthcare system.

North American online grocery platform Instacart is partnering Israeli-founded automation logistics startup Fabric (see previously). Fabric will use its robotic fulfilment warehouses and AI software to help Instacart deliver goods to its customers.

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The $300 million just raised by Israel fintech Rapyd (see previously) makes it Israel’s most valuable privately owned company, with a market value of $10 billion.

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.