The non-profit organization "Startup Nation Central" stated that investments in the Israeli technology sector declined by almost half in 2022, reflecting the global economic slowdown.
The organization, which tracks the industry in Israel, said that the total value of investments in the technology sector fell from an all-time high of $27 billion in 2021 to about $15.5 billion last year.
The tech industry accounts for more than half of Israel's exports, according to official data.
The organization attributed the decline in investments in the technology sector to the global economic downturn, noting that this trend is not limited to Israel only.
The study indicated that cyber security companies are the most affected by a decrease in funding by more than 60% between 2021 and 2022.
The study found that other sectors witnessed a decline in investment, amounting to about 42%.