Israel Active

Work has begun on Tel Aviv’s new Bus Rapid Transit system. Advanced electric buses will connect 44 stations along the 14 miles from Tel Aviv to Rehovot via Rishon LeZion and Nes Ziona. The line is estimated to cost nearly NIS 3 billion and expected to open in 2028.

Israel’s Innovation Authority is allocating NIS 113 million for a new research and development center for startups to build biodevices based on biochips. This area is known as bio-convergence and is expected to be a growth engine and source of diversification for Israeli industry.

Israel’s high-tech exports increased by 6.9% during the first five months of 2023. Over the same period, industrial production in Israel’s high-tech sector expanded by 5.6% more than in the first five months of 2022 and the number of Israeli high-tech workers grew 3% over the same period.

The European venture capital fund, Sienna VC, is raising $250 million to invest exclusively in Israeli technology companies. It plans to invest between $5-15 million in each funding round, focusing on AI, cybersecurity, fintech, digital health, foodtech, agritech, and more.

Israel’s Eco Wave Power (see previously) is partnering with maritime engineering company Lian Tat, to develop wave energy projects in Taiwan. The first is the pilot for a 20MW power station which, if successful, will lead to more power plants on the island’s 1,500+ miles of coastline.

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U.S. IT giant Honeywell has acquired Israeli cybersecurity startup for “an estimated ”. US Spire Capital has acquired Israeli web intelligence company, , for approximately .

Israel’s HyperGuest’s platform helps hotels and suppliers connect directly with travel distributors, including online travel agencies, tour operators, and travel management companies. HyperGuest provides real-time connectivity, enabling hoteliers to streamline operations, increasing revenue and margins.

Israel’s CropX (see previously) has partnered with Germany’s AgTech giant Helm AG. CropX has integrated data from its farm management system soil sensors into Helm’s SKYFLD app, used by farmers around the world.

Israel’s Gable (see previously) has 40 companies using its platform to find co-working locations for its employees in 2,000 locations. Since its launch in Sep 2020, some 5,000 workers are using Gable, including Israel’s Augury which has employees using Gable in 17 cities globally.