TLDR:
Resilience and adaptability have historically characterized Israeli high-tech, according to Lior Handelsman, General Partner at Grove Ventures. Despite setbacks in 2023, including protests and war, the sector’s innovative capacity and productivity suggest a foundation that can withstand temporary setbacks. Investors remained active during challenges, showing faith in the industry’s potential.
- In 2023, Israeli high-tech faced economic, political, and security challenges, resulting in a decrease in investments.
- Despite challenges, the sector’s strengths, including innovative prowess and entrepreneurial spirit, point towards a robust recovery and ability to emerge from setbacks without long-term damage to its reputation.
In 2024, Grove Ventures plans to focus on sectors like enterprise SaaS, Generative AI, and AI technologies. Early-stage startups are expected to attract more attention from VC funds, while the outlook for IPOs and exits is cautiously optimistic. Two portfolio companies expected to thrive in 2024 are NoTrafficNo and env0.
Full Article:
Resilience and adaptability have historically characterized Israeli high-tech, with Lior Handelsman of Grove Ventures highlighting the sector’s innovative capacity and productivity as key strengths. Despite challenges in 2023, including protests and war, the industry’s foundation seems robust enough to withstand temporary setbacks. Investors remained active during the challenging year, signaling continued faith in the potential of Israeli high-tech.
In 2023, Israeli high-tech faced economic, political, and security challenges, resulting in a decrease in investments compared to previous years. However, the sector’s strengths, including its innovative prowess and entrepreneurial spirit, suggest a strong foundation for recovery. The ability to maintain productivity and creativity even during unrest highlights the industry’s resilience and adaptability.
Looking ahead to 2024, Grove Ventures plans to focus on sectors like enterprise SaaS, Generative AI, and AI technologies. The early-stage startups are expected to attract more attention from VC funds due to their resilience during economic uncertainty. While the outlook for IPOs and exits is cautiously optimistic, the expectation is for a continuation of the cautious approach seen in the previous year.
Two portfolio companies that are expected to thrive in 2024 are NoTrafficNo and env0. NoTrafficNo, focusing on IoT and urban mobility solutions, continues to expand its offerings and enter new markets worldwide. env0, a cloud infrastructure management platform, has seen significant growth in 2023 and appointed a new COO to help with its expansion plans.
