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Israel has global recognition for its thriving startup ecosystem, housing some of the most innovative and successful startups globally. See our top 8 Israeli startups to watch in 2023.
Israel is a leader in emerging technologies like artificial intelligence, machine learning, biotechnology, and clean energy. It's not surprising that it has the world's second-largest venture funding per capita, amounting to $959. Following in the footsteps of successful Israeli unicorns like Fiverr, eToro, and Monday.com, numerous promising startups are emerging with a lot to offer.
As we prepare for our upcoming trip to Israel, we have conducted extensive research and found the most intriguing startups across various industries. Discover our pick of the top 8 Israeli startups to follow in 2023.
Faye
Faye is a travel insurance startup founded by Elad Schaffer (CEO) and Daniel Green (CTO). They concentrate on providing complete travel insurance covering health, trip-related issues, personal belongings, and even pets. By leveraging technology and prioritizing customer satisfaction, Faye’s goal is to deliver a smarter and more seamless insurance experience. Users of their mobile application have access to 24/7 customer experience specialists and real-time proactive solutions.
The Wall Street Journal has recognized Faye as one of the Best Travel Insurance Companies in 2023. Recently, the startup successfully raised $10 million in a Series A funding round led by Munich Re Ventures.
Source: Faye
Predicta Med
Predicta Med is a digital health company founded in 2020 by Shlomit Steinberg-Koch and Benny Getz. They specialize in AI-based predictive analytics for the early detection and selection of treatments for undiagnosed diseases.
The current diagnostic process for autoimmune diseases is often lengthy and complicated, involving visits to various specialists. This leads to delays in diagnosis, unnecessary procedures, and increased stress for patients. In response to this challenge, Predicta Med aims to simplify the process by utilizing its AI engine. Their objective is to connect the dots in undiagnosed diseases, empowering primary care physicians and ultimately improving patient lives.
Sency
Sency merges the worlds of sports and technology to inspire people to lead healthier lives. Their technology, Motion Operating System, utilizes AI to digitize and understand human body movement from mobile devices. This enables them to provide accurate and personalized insights to users. By leveraging this technology, Sency offers real-time guidance and exercise plans to help individuals achieve their fitness and health goals.
Sency was founded in 2019 by Gal Rotman, Neta Osman, and Ofer Goldstein, and later joined by Adam Grinker. The startup has helped over 600,000 people worldwide and raised a total funding of $6.4 million.
Source: Sency
Ledge
Founded in 2022 by Tal Kirschenbaum and Asaf Kotzer, Ledge is a finance software specifically designed for finance teams operating at scale. It provides those teams with a complete package of tools that help make their everyday tasks easier. These tools include monitoring, alerting, and valuable insights that help improve the organization's financial performance.
Finance teams can save up critical time and resources that would otherwise be wasted by manual payment tasks by deploying Ledge. This enables them to refocus their attention on critical business initiatives that foster growth and innovation. This year, Ledge secured $9 million in seed round funding, led by New Enterprise Associates.
Remilk
Remilk, established in 2019 by Aviv Wolff and Ori Cohavi, is bringing a revolution to the dairy industry. They developed an innovative method of yeast-based fermentation to create milk proteins that possess an identical chemical composition to those naturally found in cow's milk. This process enables the creation of milk that is exactly like regular milk but without lactose, cholesterol, growth hormones, and antibiotics.
Remilk has raised a total of $131.3 million in three rounds, indicating strong investor support for this innovative startup. Last year, they announced plans to establish the world's largest fermentation facility in Denmark.
Source: Remilk
Compete
In 2020, Amit Rapaport and Yoni Wasserman launched Compete - a cutting-edge platform in the HR tech sector. It provides valuable, up-to-date insights to assist tech companies in maintaining their competitive edge in the job market. By utilizing Compete, businesses can effectively attract highly skilled individuals in a competitive job market.
The platform empowers companies to compare the compensation packages and benefits offered by other companies within the tech industry. Armed with this valuable information, businesses can make well-informed decisions regarding talent acquisition, employee retention strategies, and fair compensation practices. Last year, Compete raised $15 million in a Series A funding round led by Tiger Global.
StructShare
StructShare founded in 2017 by Or Lakritz and Arik David, is transforming the construction industry through its digital platform designed specifically for specialty trade contractors. Their goal is to replace the outdated material purchasing management process with an easy-to-use solution that empowers trade contractors to oversee the entire procurement cycle.
The StructShare platform automates procurement operations in the field, office, and warehouse, resulting in lower costs, less material waste, fewer purchasing errors, and better control over spending and inventory. The startup raised an $8 million seed funding round led by Kompas.
Source: StructShare
Fundguard
FundGuard is a SaaS investment management and asset-servicing enterprise platform. The company was founded in in 2018 by Lior Yogev, Yaniv Zecharya, and Uri Katz. It is one of the few fintech startups addressing the infrastructure problems, rather than payments. The platform utilizes AI and cloud computing to enable digital asset services and sustainable investing on a large scale.
Last year, Fundguard raised $40 million in Series B funding led by Citibank, one of the startup's customers. FundGuard's mission is to help investors safely and efficiently grow their assets by replacing outdated legacy platforms.
Check out also:
- How to Scale Your Product in 2023 — A Short Guide To Sustainable Scaling — There's no one-fits-all scaling recipe, however, there are a few things you have to be mindful of to even begin thinking about the process. See tips based on our 12+years of experience in cooperation with scaleups.
- Team Extension: Your Product's Chance for Sustainable Growth — Team extension is an opportunity to help your product grow and find talent when you need it, despite the present market challenges. But the key is to find a reliable partner first.
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