JERUSALEM, Dec 28 Reuters Israeli high tech firms raised 1.5 billion in the fourth quarter of 2023, preliminary data showed on Thursday, in a sign that foreigners are still investing in Israeli startups despite Israel39;s war with Palestinian militant group Hamas.

The Israel Venture Capital IVC Research Center and LeumiTech said fundraising in quarter up until Dec. 26 dipped 15 from the third quarter but 75 deals were done. The war began on Oct. 7.

Early stage seed funding was 220 million in 31 rounds.

The report said that foreign participation rose in the fourth quarter after a decline earlier in 2023, saying the presence of foreign investors is a significant indication of the availability of funds for investments.

Last week, a group of 70 U.S. tech executives came to Israel in a show of support.

LeumiTech CEO Mia EisenTzafrir said the fourth quarter data, were an indication of the high durability of the Israeli hightech industry and an important reminder of the role this sector in the Israeli economy has especially these days.

Hightech accounts for 12 of employment, more than half of Israel39;s exports, 25 of income taxes and nearly a fifth of its overall economic output.

At least 15 of the tech workforce has been called up for military reserve duty.

Overall, Israeli startups raised about 7 billion in 2023 versus close to 16 billion in 2022 mainly in the first half of the year before the global economy began to slow.

In addition to a drop in funding due to the…