Israel Active

Israel’s OTV (formally Olive Tree Ventures) has closed a new fund totaling $170 million. OTV focuses on digital health products that have the potential to work in different countries, make healthcare more affordable and fill gaps in overwhelmed healthcare systems.

The Dubai Media office reports that since Israel and the United Arab Emirates normalized ties in September, trade between the Jewish state and Dubai has reached 1 billion dirham ($272 million). Figures for the other seven states in the UAE were not yet available.

In just one week, three Israeli startups raised funds, to push their market value over $1 billion and gain the financial status of a “Unicorn”. They are Melio, OwnBackup and DriveNets, reported previously , and .

Israeli meat distributor Best Meister is to distribute the plant-based meat alternatives of Israel’s Redefine Meat (reported previously) to Israeli restaurants and high-end butchers in the first half of 2021. Trials of Redefine Meat products disguised as real meat, were extremely popular with Israeli customers.

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Israel’s Dynamic Infrastructure (reported previously) has won its first contract on the Australasia continent. It will deploy its AI-driven technology to maintain dozens of bridges and infrastructure assets in Horsham Rural City Council in the Australian state of Victoria.

Israeli-founded TripActions (reported previously) has just raised $155 million, giving it a market value of $5 billion - despite the coronavirus pandemic! During the past year, TripActions has launched 40 new products, including a Covid-19 focused dashboard.

Intel Israel’s 13,000 employees have just received huge bonuses as recognition of their contribution to Intel Corporation’s best-ever year. Despite (or because of) the pandemic, the global demand for technical products increased Intel’s revenue by 8% in 2020 to $78 billion.

American Airlines has announced a 6th May start date for its direct flights between New York JFK and TLV Ben Gurion airports. Tickets went on sale on 25th Jan. American has also announced direct flights from Dallas, Texas and Tel Aviv starting in September.

Israel Natural Gas Lines Ltd. is to lay a new subsea pipeline to export Israeli natural gas to Egypt. The $228 million route will send as much as 7 billion cubic meters of gas annually to Egypt. Gas is expected to begin flowing down the pipeline by April 2023 at the latest.