Israeli startups struggle to raise funds

Israeli tech companies are struggling to raise funds , thanks to concerns over the country's judiciary overhaul and the global economic downturn. The tech sector in the country was hit harder in Q1 2023 than almost any other country in the world. In Q1 2023, Israeli tech companies raised $1.7B, a 70% drop YoY and the lowest quarterly fundraising level in four years. Globally, funds saw a 13% decrease across the tech sector in Q1,according to the analytics firm CB Insights. Some are saying investor confidence is low because of the turmoil sparked by Prime Minister Benjamin Netanyahu's plan to overhaul the country's judicial system. Other investors have pulled back investments due to high inflation rates, a trend seen all over the world. The collapse of Silicon Valley Bank could hurt future Israeli tech funding, as it was the most prolific lender to Israel's tech industry.