Israeli startups raised 32 percent more financing in January 2024 than they did in January 2023, according to the Globes business news service.
The startups raised nearly $500 million last month, as compared to the $340 million raised in the same month one year earlier.
The company that raised the largest amount was the Silverfort identity protection company, which raised $116 million.
Aqua Security, a cloud native security solutions developer, raised $60 million. The Torq cybersecurity firm raised $42 million, closely followed by the Bluewhite agricultural robotic company, which raised $29 million.
Oasis Security, a non-human identity management firm, raised $35 million, according to the report, which provided a gleam of good news following an announcement by the Moody’s Ratings Agency on Friday that it was lowering Israel’s credit rating to A2 and keeping its “negative” outlook.
In a vigorous response to the announcement, Bank of Israel Governor Professor Amir Yaron noted that despite the bad news, the agency had emphasized that Israel’s macroeconomic and monetary policy frameworks are strong.
“The agency notes the Israeli economy’s robustness, which is reflected in the rapid recovery from the initial shock of the war. Already in November, there were significant signs of rapid recovery that were reflected in a sharp decline in the unemployment rate and an increase in the level of economic activity, as reflected, for instance, in an increase in the volume of credit card purchases, and in business sector assessments regarding activity in the coming months. These trends intensified in December and January,” Yaron pointed out.
“The Israeli economy is rooted on strong and healthy economic fundamentals, and is a world leader in the fields of innovation and technology. We have known how to recover from difficult periods in the past and rapidly return to prosperity, and the Israeli economy has the strength to ensure that this will happen this time as well,” he added.