Barak 8 for Indian navy
India has bought over 70 ship-mounted MRSAM (medium-range surface-to-air missile) systems from Bharat Dynamics, Israel Aerospace Industries’ (IAI) partner in developing the Indian version of the Barak 8 air defense system. The contract is worth around $340 million.
$6 million for joint US-Israel projects
The BIRD Foundation is providing another $6 million of funding for five new joint US-Israeli projects.
Israel companies involved are:-
(anesthesia monitoring),
(Quantum errors),
(chronic monitoring),
(cancer odor),
and (sensors).
Foreign airlines flock back to Israel
In the last 3 weeks, 14 leading airlines have announced resumption of Israel flights. They include Wizz Air, Ryanair, easyJet, Lufthansa Group (including Swiss & Austrian), British Airways, Air France, Delta Airlines, and Air India.
Inflation rate falls again
Israel’s Consumer Price Index (CPI) fell by 0.3% in Dec 24 (more than analysts expected), after its 0.4% fall in Nov. At the end of 2024, Israel’s annual inflation rate was 3.2% (down from 3.4% at the end of Nov 24.) Prices of fresh fruit and veg fell again, this time by 5.6%.
A much better year for Israeli tech
According to the Israeli Tech Review 2024 by IVC Data and Insights and LeumiTech, 2024 was far better for Israeli tech than 2023. 40% more capital raised; an increase of 15% in the number of rounds; more multinational companies opened; and 7 new unicorns (only 4 in 2023).
$30 million of orders
Israel’s Gilat Satellite Networks (see previously) has won $30 million of orders in the last two weeks. It includes $18 for In-Flight Connectivity Solutions (Wi-Fi on planes), and $9 million from major satellite operators for SkyEdge IV and SkyEdge II-c satellite communications.
Startup investment – to 26/1/25
raised ;
raised ;
raised $;
raised ;
raised ;
Exits, mergers & acquisitions – to 26/1/25
US Metropolis has acquired Israel’s Oosto (formerly ) for .
Israel’s is acquiring Germany’s Aurenz for up to .
A bigger Gong
Israel’s Gong (see previously) has taken a 3-year lease for 3,600sqm of space in Ramat Gan at a cost of NIS 30 million. It will house many of its 380 Israel-based employees, plus the hundreds of developers it is recruiting at its Israeli R&D center. Gong has over 4,500 customers for its AI sales products.
Combating domestic violence in Alabama
Israel’s SuperCom (see previously) has won a new contract to provide its advanced GPS tracking and domestic violence (DV) monitoring solutions to a government agency in Alabama. It is SuperCom's 5th new US state since Aug 2024 and its 10th USA contract in just 60 days.