Israeli Startups Attracted Three Billion Dollars in Foreign Investment in Just Three Months

Israeli technology startups announced on Sunday, July 1, that they attracted 2.9 billion dollars in investment during the second quarter of this year. This comes at a time when Israel has been engaged in the Gaza war and a parallel conflict against Hezbollah attacks in northern Israel for the past nine months. Nevertheless, the trend of foreign investment in Israeli tech companies has been on the rise. This marks the second consecutive quarter that the tech sector in Israel has attracted significant foreign investment. In the second quarter of 2024, investment increased by 19 percent. In the first quarter of this year, 1.63 billion dollars flowed into these companies. Between April, May, and June of this year, investors trusted the company 'Wiz' and invested 965 million dollars in cybersecurity in this firm. 62 percent of the 2.9 billion dollars invested in the second quarter came from six deals with companies, including 'Wiz', with the smallest deal amounting to 100 million dollars. 47 foreign investment entities invested in Israeli startups for the first time during this period. In the second quarter of 2022, Israeli tech companies had secured five billion dollars in foreign investment. However, attracting investment since the second half of 2022 was limited due to global downturns and concerns over the impacts of 'judicial reforms' on Israel's structure. Nonetheless, since the beginning of the extremist Hamas group's attack on Israeli territory in mid-October last year, which led to the Israeli army's war in Gaza, the level of investment has been steadily increasing. Israel is considered a global power in technology, with its products and innovations widely used in renowned global companies. Additionally, data released on June 18 of this year indicated that despite the war in the last quarter of 2023, Israel exported 13 billion dollars worth of its manufactured weapons to countries around the world. This figure set a new record, with 36 percent of this amount allocated to the sale of air defense equipment. 9 percent of the weapons were exported to the United States and Canada, 35 percent to European countries, 48 percent to Asian and Pacific countries, 4 percent to Latin America, 3 percent to countries involved in the 'Abraham Accords', and 1 percent to African governments.