Israel Active

US chip giant, Intel is to invest $600 million into MobilEye - its Israeli autonomous vehicle hi-tech company. Intel is the largest private-sector employer in Israel.

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Migdal Insurance, Israel’s largest insurance company and pension manager is to invest up to $355 million in Israeli renewable energy company Doral (see ). It includes $110 million for a 20% stake in Doral, $100 million for Doral’s Indiana solar project and $130 million of credit.

Israel’s Gilat Satellite Networks (see previously) has received orders of over $20 million for gateway amplifiers of its Wavestream US subsidiary. These Solid State Power Amplifiers (SSPAs) support communications on Low Earth Orbit (LEO) constellation satellites.

Israeli-founded Jstay is developing a free app for Jewish travelers to find the right place to stay. It differs from AirBNB in that Jstay is geared for people who need specifically Jewish services when they travel such as kosher food and local Jewish communities and synagogues for Sabbath observers.

The new business alliance between Israeli-founded Prytek and Israel’s CRiskCo will provide added credit capabilities to Prytek’s Karbon managed services platform.

Although tourist travel to Israel is limited, first-degree relatives of Israeli citizens can visit, and some groups are starting tours in late May. Then from July package tours and vaccinated individual tourists can travel here.  Meanwhile, the Tourist Israel website lists the airlines currently flying to Tel Aviv.

Trendlines Agrifood - the Investment vehicle of Israel’s Trendlines, is partnering Mitsubishi Corporation to help the Japanese giant tap into the Israeli innovation ecosystem across several key industries. Trendlines Agrifood and its partners are developing an innovative agri-food tech ecosystem.

Israel's diamond industry is recovering from the coronavirus pandemic exceptionally well. In the first quarter 2021, rough diamond imports increased by 75% and exports by 66%. Imports and exports of polished diamonds also increased. In March, volumes soared substantially.

The UK-Israel Tech Hub has launched a Venture Capital “club,” - an invite-only forum of VC funds from the UK and Israel. Its aim is to raise the amount of investment from UK investors into Israeli startups. It will also identify opportunities for Israeli VCs in the UK ecosystem.