Report: Israeli High-Tech Rebounding With $1.6B Raised in Q1

Israel’s high-tech sector is showing signs of revival, with $1.6 billion raised in investments during the first quarter of the year, according to a new joint report by the IVC Research Center and Bank Leumi. 

The Israeli media quoted the report as saying that the sum raised in Q1 was a 10-percent increase over the final quarter of 2023, which saw the start of the ongoing war against Hamas following its massive attack against southern Israel on October 7. 

Nonetheless, it is still 10 percent lower than the sum raised during the same period of 2023.  

Early-stage startups saw a real boost in fundraising efforts, the report said, with a 48-percent increase in the number of seed and Series A rounds when compared to Q4 of last year.

Furthermore, six Israeli companies raised more than $100 million, among them Minute Media, which recently announced its purchase of the rights to publish Sports Illustrated. 

“After three consecutive quarters in which there were falls recorded in the number and amount of financing rounds raised by Israeli tech companies, the data for the first quarter of 2024 surprises for the good,” IVC Data and Insights CEO Ben Klein said, according to the Globes website. 

“Despite the damage to the economy and the country, analysis of the data indicates stabilization and improvement, even if only modest, in most of the financial parameters of Israeli tech,” he said. 

The full report is due to be released next month.