Israel Active

Global financial services firm J.P. Morgan Chase & Co. is reaffirming its commitment to Israel with the expansion of its Israel Tech Center in Herzliya, home to its risk and trade management platform Athena.

Israeli-European venture capital firm Cardumen Capital has raised $120 million for its second deep tech fund to invest in early-stage Israeli startups. The Israeli-European VC will select companies in fields such as AI, cybersecurity, big data, and information technologies.

Israel’s Red Dot Capital Partners (see previously) has completed the funding of its third Israeli fund. It has over $200 million to invest in earl growth startups working across the Israeli tech industry sectors, including enterprise software, fintech and cybersecurity.

The IVC-LeumiTech Israeli Tech Review 2023 has just been published. In summary, considering that Israel is at war, the Israeli tech ecosystem kept going well. High-tech capital raising was stable; foreign investors were not scared by the war and increased their share of funding over local investment.

Israel’s latest aid for startups includes a huge fund to invest in deep tech breakthrough scientific developments. It ranges from 50% of a pre-seed round to NIS 50 million for series A rounds. Startups with women, Haredi, or Arab entrepreneurs, or from the periphery will receive 10% more.

According to Israel’s Central Bureau of Statistics, the average monthly Israeli wage in in Nov 2023 was NIS 12,651 gross, 10% higher than in Nov 2022 and well ahead of inflation. Bank of Israel Governor Amir Yaron was upbeat on the economy after cutting the BoI interest rate by 0.25% to 4.5%,

Israel’s Haifa Group (see previously) has been expanding its sustainable agricultural technology business across the planet. It is also developing new seeds at Aaronsohn Farm in Atlit where agronomist and Nili founder Aaron Aaronsohn re-discovered the original wild wheat.

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Global diagnostics company Veracyte is acquiring Israeli cancer care startup C2i for . US company Delinea has acquired Israeli cybersecurity for “”

Israel’s digital bank One Zero (previously First Digital Bank – see ) is expanding its reach to Italy. Calcalist reports that it is poised to sign an agreement with Italian bank Generali.