Report says Israeli tech investments nearly halved in 2022

TEL AVIV, Israel (AP) — Investments in Israel’s tech sector dropped by nearly half in 2022, reflecting a global economic slowdown. That’s according to a report Tuesday by Startup Nation Central, a nonprofit organization that tracks the industry in Israel. The group’s analysis showed that the total value of investments in the industry sank from a record $27 billion in 2021 to about $15.5 billion last year, a trend not unique to Israel. Cyber firms suffered the toughest hit, with a funding decline of more than 60% between 2021 and last year. Other sectors that each suffered a decline in investment sank by about 42%, the study found.