Unshaken by COVID, Israeli tech sector posts strong year

JERUSALEM — Israeli exertion companies erstwhile again thrived during the coronavirus pandemic, raising grounds levels of concern for a 2nd consecutive year, according to a survey released Monday.

Start-Up Nation Central, an Israeli nonprofit that promotes the section exertion sector, said Israeli exertion companies raised an all-time precocious of $26.6 cardinal past year. That was much than treble the level raised successful 2020, which was besides a grounds year, the radical said.

It said that information products, led by cybersecurity, remained the largest Israeli tech sector, followed by endeavor and fiscal technology. The 3 sectors attracted immoderate two-thirds of full concern past year, the survey said.

It said 33 section companies became “unicorns,” oregon firms valued astatine implicit $1 billion. In all, Israel has immoderate 54 unicorns, it said.

Avi Hasson, main enforcement of Start-Up Nation Central, said the results proved the resilience of Israel’s booming tech sector. “Israeli companies showed their agility and responsiveness by processing precocious proudcts and services successful the fields that required them most,” helium said.