Although open data indicates stagnation, covert funding and covert new initiatives show a concealed surge.

Venture entrepreneur Eyal Niv adds, “It’s hard to say this given the general reality in Israel, but 2024 is an excellent year for high-tech.” “We project that the entire fundraising volume will be roughly $12 billion, of which about $3.2 billion will come from early-stage funding alone.

A steady growth is visible after 2018 when $1.7 billion investment was secured as these figures are far stronger than those in 2023 if the 2020 and 2021 years are to be kept aside.

Even those who keep a close eye on Israeli technological news would be surprised by what Niv said.

It may appear to many that nothing is happening because many entrepreneurs choose not to launch new businesses or make significant announcements on investments, employment, expansion, or gleaming new headquarters. $12 billion, then? Really?

Actually, a lot is going on, but it’s mostly hidden. Here’s another military term that has been ingrained in our daily lives: stealth. The Israeli high-tech industry is currently functioning in a stealthy manner, much like a stealth bomber. Entrepreneurs of all ages are starting businesses, registering them, recruiting staff, and raising capital—sometimes in several rounds. However, the existence of these companies is only known to those who need to know.

The Managing Director of Dell Technologies Capital, Mr Yair Snir stated that by default the startups are kept under the radar. In the two seed funding rounds led this year, the first was a major fundraising stage was not announced. The startups were sheathed confidentially. Similar to this, Niv from Pitango, which oversees $3.3 billion and focuses on early-stage investments, mentions six businesses that they have made covert investments in; these businesses aren’t even included in the fund’s portfolio.

In this manner, the financing quantities add up and the figures have greater significance.