Israel Active

Israel’s economy recovered sharply in the first quarter of 2024. Gross domestic product (GDP) grew an annualized 14.1% in the January to March period.  Growth was led by a rebound in consumer spending and investment, particularly in residential building. 21% more new homes were sold than Q1/23

The TechMod tech park in Modi’in will provide 10,000 jobs in the city that was originally built as a dormitory town between Jerusalem and Tel Aviv. The NIS 1.5 billion cost will encompass 100,000 sqm of office and commercial space, saving time for 75% of residents who currently work elsewhere.

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Israel’s has with US-based LAMF Global ventures and is now trading on NASDAQ. Israel’s has Brazil’s top bus ticket seller DeOnibus. Blackstone Growth Fund is to acquire Israel’s at an .

Israel’s Oshi (formerly Plantish – see previously) is unveiling the latest version of its plant-based salmon filet, in Chicago. Oshi has secured US-wide distribution for its flagship alternative cooked salmon filet.

Despite the ongoing war, the famous lingerie company Victoria’s Secret has opened two stores in Israel, at shopping malls in Haifa and Petah Tikvah. They follow the launch of the Israeli Victoria’s Secret website which started operations last year.

The Israel Innovation Authority is investing $160 million over 20 months in the Yozma Fund 2.0 initiative. It aims to attract another $700 million from institutional investors such as Venture Capital funds, to encourage more Deep Tech startups (see previously).

NFX is one of the world’s largest Venture Capital seed funds. It is to invest some of its $20 million emergency fund in cash-strapped Israeli startups. To avoid a long, drawn-out decision-making process, NFX promises to respond to requests within nine days and provide the cash within three weeks.

Israel’s Profuse Technology (see previously) was awarded a 2.4 million euro grant from the EU’s competitive Horizon EIC Transition program. Profuse will use the funds to refine its technology that speeds up the cultivation of non-animal meat.

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