Israel Active

Israel’s three airlines (Israir, El Al and Arkia) are renewing their direct flight routes to Turkey, which were suspended in 2008. Also, for the first time, Oman has given permission for all planes from Israel to fly through its airspace, substantially reducing flight times to Asia.

The 2023 OurCrowd Global Investor Summit in Jerusalem featured 200+ Israeli startups that exhibited, presented, and pitched to 6,400 (some say 9,000) attendees.

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Total trade between Israel and Abraham Accords countries increased from $593 million in 2019 to $3.47 billion in 2022. Some 5,200 tourists entered Israel from the United Arab Emirates, Bahrain, Morocco, Kosovo, and Sudan in 2022 – up 52% from 2019.

Israeli fintech company Liquidity Group (see previously) has raised another $40 million from Japanese banking giant MUFG Bank at a valuation of $1.4 billion. Liquidity provides capital mainly to later-stage technology companies for businesses around the world.

By the end of March, thirty of Israel’s Shufersal’s 395 Israeli stores will deploy 2,000 smart shopping trolley cameras and screens from Israel’s Shopic (see previously). The AI system will allow customers to skip the checkout.

The Vera Hotel is Tel Aviv’s first boutique hotel to banish single-use plastic entirely. Soap and shampoo bottles replaced by dispensers; water-filter systems, and biodegradable coffee cups. Meanwhile, Israel’s Fattal Group has acquired UK’s Brighton Grand and London’s Dilly hotels.

Israel’s Casterra, a subsidiary of Israel’s Evogene (see previously), is partnering with a major energy company to cultivate its unique Israeli castor varieties at commercial scale. The aim is for these to provide the basis for a new biofuel for countries in Africa.  

The non-profit Good Food Institute (GFI) Israel has estimated that Israel invested $454 million in alternative proteins in 2022. This was about 15% of the capital raised for the sector globally - second only to the US.

Israel has exported its first-ever shipment of crude oil. The cargo of hydrocarbon gas liquids (HGLs) was extracted from Israel’s Karish natural gas field. This was then converted into high-demand light sweet crude oil and sold through Vitol commodity traders to European customers.