Despite war, Israeli startups raise over $12B in 2024
Despite Israel’s economic stagnation last year, a new report found that high-tech — which accounts for 16% of all Israeli jobs — saw its gross domestic product rise 2.2% in 2024, bucking the wider economic trend in Israel.
Israeli companies raised an estimated $12.2 billion in 2024, up 31% from 2023, despite a war on multiple fronts that dragged on throughout the year, according to a report released Tuesday.
The report by Startup Nation Central, an Israeli nongovernmental organization promoting domestic businesses, said that so far, $10.6 billion of private funding had been recorded in 2024, compared to $8.3 billion in 2023, with yet-to-be reported funding expected to bring the total to approximately $12.2 billion.
Yariv Lotan, a vice president at SNC, attributed this increase to larger funding rounds, a growing number of mature companies and increased acquisition-driven exits, in which a major investor in a company sells their stake to another firm.
"Scale-ups have moved from being acquisition targets to active acquirers," Lotan added. "This indicates the strength of Israel’s scale-up ecosystem and its ability to attract substantial global investment."
