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Israeli startups raised nearly $1.5b in May

Raising dollars credit: Shutterstock
Raising dollars credit: Shutterstock
2 Jun, 2024 16:55
שלח תגובה במיילGlobes correspondent

In the first five months of 2024, Israeli privately-held tech companies have raised $4.1 billion.

Israeli startups raised nearly $1.5 billion in May 2024, 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. This is the highest monthly figure for several years and the second successive month in which privately held tech companies in Israel have raised over $1 billion.

Israeli privately-held tech companies raised just $6.9 billion in 2023, according to IVC-Leumitech, after raising $15 billion in 2022 and a record $25.6 billion in 2021. In the first five months of 2024, Israeli startups have raised $4.1 billion.

In May 2024, large financing rounds were led by cloud security company Wiz which raised $1 billion - the single biggest financing round ever completed by an Israeli privately-held tech company. AI data platform company Weka raised $140 million, and drone manufacturer company Xtend raised $40 million. Insurtech company Honeycomb raised $36 million, Oasis Security raised $35 million and real estate management company Agora raised $34 million.

Published by Globes, Israel business news - en.globes.co.il - on June 2, 2024.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2024.

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