Despite the global pandemic, 2020 has been a tremendous year for Tel Aviv’s tech scene, according to the report. Investments in Tel Aviv tech companies soared to $ 6.8 billion last year, up 34% from 2019 and accounting for 48% of all investments in Israeli tech companies.
Tel Aviv tech firms’ outflows hit a record $ 4.43 billion. in 2020, an increase of 20% compared to 2019 and of 46% of all exits in value. Over the past five years, the number of tech companies operating in Tel Aviv has grown by 25% compared to a 16% increase across Israel. Foreign investors held 68% of total investments in Tel Aviv companies, the report notes.
The city has 20 “unicorns” valued at over $ 1 billion. each, with 14 of those joining the roster in 2020, he said.
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