Cybersecurity firms suffered a 60% decline in funding, while seed investments grew by 22% in 2022, according to a report by Start-Up Nation Central
Israel’s tech sector is looking back to 2022 as the start of a downturn, with funds raised by startups almost halved, dropping to $15.5 billion. Cybersecurity firms got hit hardest, while seed investment into local startups increased, according to a report published Tuesday by Start-Up Nation Central (SNC), a nonprofit organization that tracks Israel’s tech industry.
The value of investments last year slumped 43 percent compared to 2021, a bumper period when Israeli companies nabbed a staggering $27 billion in private capital in total, driving up deal valuations. During the same comparative period, the overall number of investment rounds declined by about one-third, to 826 in 2022 from 1,103 the previous year.
Source TOI/ Photo Seth Wenig