Israel Active

Investment in Israeli startups in the first quarter of 2024 is $1.6 billion so far.  That is 10% higher than the fourth quarter of 2023. Also, there was a 34% increase in the number of funding rounds.

The Czech Ministry of Defense has awarded a 20-year contract to Israel Aerospace Industries to maintain the Czech MMR radars. The MMR radar is the ‘brain’ behind the Barak, Iron Dome, and David’s Sling. To date, over 200 systems have been sold to customers around the world.

ESRA (English Speaking Residents Association) is hosting a free Zoom lecture by Arona Maskil entitled “Understanding the Israeli Business Culture”. Apr 1 at 8pm Israel time.  Registration required. Part of the series of fully subsidized zoom lectures by “Get it Right in Israel”. For other events:    

The California Department of Pesticide Regulation has approved the FieldProtect pre-harvest treatment from Israel’s Save Foods (see previously). It should help California reduce food waste, plus it paves the way for Save Food’s commercial expansion in the State.

The Ministry of Housing plans to bring about 40,000 more foreign workers to Israel for jobs in the construction industry. Already some 1,200 Indian workers are in Israel, increasing to 10,000 by end June. Similar numbers will be employed from Georgia, Sri Lanka, and Azerbaijan.

In his announcement of an arms embargo on sales to Israel, Canada’s Foreign Minister forgot to mention that in the last decade, the Canadian Defense Ministry purchased Israeli weapon systems worth more than a billion dollars. (see also previously)

Israel’s OurCrowd has announced that commitment by investors to its Israel Resilience Fund had increased to $17 million, enabling it to increase funding to a current total of 34 startups. In addition, PwC Israel will provide business support to portfolio companies in the fund.

The tenth Europe Days conference in Tel Aviv (see previously) featured some 200 Israeli startups and entrepreneurs. All were hoping for investment from the 14 venture capital funds and 18 representatives of companies, authorities, and municipal bodies from Europe.

Israel’s NeuReality (see previously) has raised $20 million including from The European Innovation Council and Israel’s OurCrowd.

Egyptian-based PAPSS (the Pan-African Payment and Settlement System) has selected Israel’s Thetaray (see previously) as its anti-money laundering (AML) and screening partner.