AI in Israel Grows Beyond Computer Vision

More than 1,200 AI startups (broadly defined) were created in Israel since 2010.  79% of which are still active, 6% have been acquired, and 15% have ceased to operate. With more than 667 of them raising at least one founding round.

The technologies Israeli AI companies focus on (Source: IVC Online)

The technologies Israeli AI companies focus on (Source: IVC Online)

According to the latest IVC report “Leading AI Technologies in Israel” the evolution of AI tech in Israel shows positive vital signs:

  • AI capital raising has grown significantly since 2013, both in the number of deals and amounts – In 2017, AI startups raised $1.9 billion in 2017. Some reports estimate that we have crossed that mark in 2018 already.
  • AI exits in the first half of 2018 were higher than for all of 2017.
  • In particular, the report calls out the diversity of technologies in the AI sphere. While Israel was primarily known for its strength in Computer Vision, the largest proportion of new companies since then is in Data Science (a general name for predictive analytics technologies) as well as chatbots/robotics/assistant etc.

As a trend, the number of computer vision and text mining companies is decreasing. The report doesn’t specify a reason, but the data for 2018 isn’t yet final.

Number of Israeli AI companies created by year (Source: IVC Online)

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Eze Vidra

Eze is managing partner of Remagine Ventures, a seed fund investing in ambitious founders at the intersection of tech, media, data and commerce. We are backed by some of the world's leading media companies. I'm a former general partner at google ventures, head of Google for Entrepreneurs in Europe and founding head of Campus London, Google's first physical hub for startups. I'm also the founder of Techbikers, a non-profit bringing together the startup ecosystem on cycling challenges in support of Room to Read. Since inception in 2012 we've built 8 schools and 31 libraries in the developing world.