Israeli Tech Funding Reaches $12.2 Billion in 2024

Israeli tech companies raised an estimated $12.2 billion in 2024, a 31% increase from the previous year, driven largely by a surge in cybersecurity funding and larger financing rounds, according to a report from Startup Nation Central. Notably, $10.6 billion was officially reported, with additional unreported rounds contributing to the total. The cybersecurity sector, although only 7% of the tech industry, accounted for 36% of total funding, raising $3.8 billion, marking a 90% increase from 2023. The tech sector's GDP grew by 2.2% despite an overall economic contraction of 1.5%, showcasing its resilience amid ongoing conflict and geopolitical tensions. Experts noted that trends in U.S. investment and the maturation of Israeli startups into scaleups have also played a significant role in this growth. As Israel navigates its complex security situation, the tech sector remains a critical driver of the economy and innovation.