While the midst of increasing worldwide technology investment, Israeli entrepreneurs raised $ 25.4 billion during the year, exceeding the previous year’s record.
According to research by Start-Up National Central, a non-profit that supports the Israeli IT industry, the number of rounds of funding for startups worth more than $100 million climbed by more than a second to 74 a year.
A chronic problem for the industry
As shown in the research, the financial growth has been propelled by a major personality change among elite investors, with US firms like Insight Partners and Tiger Worldwide as one of the most involved in the Israeli industry during the year.
Corporations such as Monday.com. Ltd., Global-E Online Ltd., and Riskified Ltd. topped the list of 57 corporations that have made profits this year, setting new highs.
“Unprecedented expansion of capital, Israeli entrepreneurs are unable to employ enough workers to carry out their expansion plans,” said Avi Hasson, CEO of Start-Up National Central.
By an Israel Technology Authority report, the business had roughly 13,000 job opportunities at the end of last year, indicating that skills shortages are a continuing issue.