Israeli startup funding accelerates to $1.4bn in November, supporting sentiment for the shekel

ISRAEL - In Brief 02 Dec 2025 by Sani Ziv

In November 2025, Israeli startups raised approximately $1.4 billion, bringing total fundraising this year to $15 billion. Overall, in 2024, Israeli companies raised $11.6 billion, up 16.3% from $9.9 billion raised in 2023, and following $20 billion raised in 2022 and a record $34 billion raised in 2021. In November 2025, the biggest financing round was completed by cybersecurity company Armis, which raised $435 million. AI server company Majestic Labs, AI agents company Wonderful, and drone startup Heven raised $100 million each. These figures, together with last week’s record high in high-tech export services, support the shekel and add appreciation pressure. The chart below presents the evolution of capital raised by Israeli startups (left axis) and U.S. venture capital deal activity (right axis). The data highlight a strong correlation between investment cycles in Israel and the U.S., particularly up to early 2023. From that point onward, U.S. investment activity continued to rise sharply, while fundraising by Israeli startups fell behind. Startup fundraising in Israel vs. the United StatesBillions of U.S. dollars Source: Bank of Israel (capital raised by Israeli startups); Crunchbase (US VC deal activity)

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