Israeli startups raised nearly $700m in June

Dollars Photo: Shutterstock

Israeli tech companies, which raised a record $8.3 billion in 2019, have raised over $4.7 billion in the first six months of 2020, despite the Covid-19 crisis.

Israeli startups raised nearly $700 million in June, according to Start-Up Nation Central. The figure may be more as some companies prefer to remain in stealth and not to publicize the investments they have received.

After raising a record $8.3 billion in 2019, according to IVC-ZAG, which easily surpassed the record $6.4 billion raised by Israeli tech companies in 2018, and $5.24 billion in 2017, 2020 began strongly with $2.74 billion raised in the first quarter and now according to initial estimates $2 billion raised in the second quarter despite the Covid-19 crisis.. In some instances, financing rounds by tech companies that facilitate remote working and healthcare and cybersecurity, have been boosted rather than hampered by the pandemic.

Six startups were responsible for over half the amount raised last month led by fintech company Pagaya, which raised $102 million. Biotech company Prilenia Therapeutics raised $62.5 million, e-commerce startup Global-e raised $60 million, data recovery company Zerto raised $53 million ($33 million in equity investment and $20 million debt), digital music catalog company Artlist raised $48 million, and big data analytics company SQream Technologies raised $39.4 million.

Published by Globes, Israel business news - en.globes.co.il - on July 1, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Dollars Photo: Shutterstock
Dollars Photo: Shutterstock
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