Israeli hi-tech fundraising fell 42% in 2022: report

Israeli hi-tech fundraising fell 42% in 2022: report

This is a sharp drop of nearly 42 percent from the all-time high of $25.86 billion raised in 2021, according to the Israel Tech Review, written by IVC and Bank Leumi.

“The main reason for the year-on-year decline is reduced activity in global markets, which is due to economic instability and a drop in company values,” Marianna Shapira, research manager at IVC, told Xinhua on Tuesday.

“Activity in the Israeli market reflects the global slowdown, as seen in the second half of the year,” she added.

However, the money raised in 2022 is the second highest in history, with most of the amount invested in the cybersecurity, food tech and fintech sectors, the report said, as quoted by news agency Xinhua.

A total of 663 deals have been closed by 2022, of which 36 are mega deals of at least $100 million. In addition, 706 hi-tech companies were founded in Israel in the past year, it added.

The authors predict that 2023 will be difficult for many Israeli start-ups, but without a major economic crisis or a significant change on the geopolitical map, there will be a return to growth in capital flowing to Israel’s hi-tech in the second half. flows. of the year.

disclaimer: This story was automatically put together by a computer program and was not created or edited by FreshersLIVE.Publisher : IANS Media

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