Israeli startups raised $550m in May

Raising dollars credit: Shutterstock
Raising dollars credit: Shutterstock

Investment in Israeli privately-held tech companies amounted to just $2.7 billion in the first five months of 2023.

Israeli startups raised $550 million in May 2023, according to press releases seen by "Globes." The figure may be more as some companies prefer to remain in stealth and sometimes do not publicize the investments they have received.

Investment in Israeli privately-held tech companies slowed to just $1.7 billion in the first quarter of 2023, Start-Up Nation Policy Institute (SPNI) reports. Investment in Israeli privately-held tech companies amounted to just $2.7 billion in the first five months of 2023. Israeli privately-held tech companies raised $15 billion in 2022, according to IVC-Leumitech, after raising a record $25.6 billion in 2021, more than double 2020's figure of $10 billion, which was itself a record. At the current rate, Israeli startups are unlikely to raise more than $7 billion this year.

Last year Israeli startups raised $10.9 billion in the first half of the year and just $4.1 billion in the second half of the year, as the sharp falls on Nasdaq effected the valuations of growth companies. The amount raised in May 2023 is consistent with the amounts startups were raising in the latter part of 2022.

In May, larger financing rounds were led by vehicle inspection solutions company UVEye, which raised $100 million. In other large financing rounds last month, heart pump company Magenta Medical raised $55 million, smartphone as medical device company Healthy.io raised $50 million and insurtech company Novidea raised $50 million.

Published by Globes, Israel business news - en.globes.co.il - on June 1, 2023.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.

Raising dollars credit: Shutterstock
Raising dollars credit: Shutterstock
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