In the capital of the startup nation Israel, the tech sector is developing every day. It suffices to know that Israel has the largest number of startups in the world per capita. Tel Aviv startups are expanding and increasing in number every day.
Co-working spaces and venture capital funds support tel Aviv startups. They have long begun exporting their startups to the United States and Europe through technological innovations that attract investors and capital from everywhere globally. And at the principle of the Tel Aviv startups, it is built to survive and expand around the world.
According to the first quarter of 2020, Tel Aviv startups received a whopping $ 2.74 billion in financing and investments in the IVC Research Center’s high-tech sector. This number is more than the first-quarter figures for 2019, at $ 1.557 billion, and the fourth quarter of 2019, at $ 2.362 billion.
The investment demand increases in Tel Aviv startups working in the technological innovation sector, especially in cybersecurity. The massive spread of the Coronavirus represents the global health crisis. The global trend towards remote work has increased the demand for technological innovations developed by Tel Aviv startups in the technology sector.
Tel Aviv Startups – Perimeter 81
This company develops network security services and delivers virtual private and traditional networks that run on devices, making the work environment safer and more scalable for an increasingly distributed workforce.
“For more than 30 years, companies have relied on Firewall technology and complicated, device-based, and location-based VPNs. It has moved user-focused SaaS technology into the current era, allowing companies to provide Its employees and workers have secure access to the organizational resources that enable them to continue working without interruption. “
In March of 2019, the company secured a massive investment of $ 5 million from Spring Ventures, and then another $ 10 million in financing from Sonic Wall, which it is still investing in. Finally, I got a new investment of $ 4 million from Toba Capital.
One of Tel Aviv’s most essential startups, Perimeter 81, is always putting the future before its eyes, as they were expecting that remote work would dominate the market over the next decade. But with the emergence of the Coronavirus and its spread throughout the world in a short period, they have become sure that the impact of the epidemic will lead to an increase in the rates of remote work and work from home.
While working on virtual network software, Perimeter 81 also reduces or even eliminates the dependence on expensive hardware. With the tremendous technological development in the Internet era in recent years, companies began to invest more in artificial intelligence innovations to maintain competitiveness in the markets.
Tel Aviv Startups – Run: AI
The Tel Aviv-based company is innovating in the AI sector. It has already developed fast and cost-effective technologies by simulating expensive devices to pool and allocate its resources with high efficiency. The company secured a whopping $ 14 million investment from companies like TLV Partners and S-Capital.
The company specializes in bringing its innovations and services to profit-seeking companies. Many companies and even governments have recently started adopting artificial intelligence techniques, which has been challenging to achieve in the past five years. Perhaps the company’s success in this technology sector is what explains the huge numbers it is looking to invest in.
Secret Double Octopus
Another company that has made a big jump due to the amount of investment is Secret Double Octopus, the security company. The company is located in the Beersheba region. It is based on developing technology that enables companies to certify that employees enter an internal system without using a password. Beginning in 2016, the company is presenting its platform and services to the Fortune 500 companies worldwide.
The company indicated through its CEO and co-founder “Raz Raffaele” that during the epidemic crisis and with the increase in work from home, many accounts and systems are exposed to hackers’ attacks. Thus, this has contributed to increasing our interest in developing technology without using a password, especially for everyone who works remotely. This technology helps to remove the threat of hackers and cyber-attacks and makes entering work programs and systems easier and faster for all parties in the work environment.
The startup Secret Double Octopus raised about $ 22.5 million in investments, of which $ 15 million came from significant mutual funds such as Sony Financial Ventures and Global Brain in April of this year 2020.
The massive spread of the global Corona epidemic has led to increased digitization and digital transformation in many business areas. Tel Aviv startups working in technological innovation are benefiting greatly from these rapid changes.
Tel Aviv startups’ success factors are many. Perhaps the most important one is the community within the ecosystem, where founders often share information, provide data, and help each other advance.
