Israeli startups raise $800m this year

CNOGA Photo: PR

Israeli startups are keeping pace with the first quarter of 2016 when over $1 billion was raised.

Israeli startups have raised $800 million in 2017 so far, "Globes" has found. With three weeks left in March, this is keeping pace with last year when Israeli startups raised $1.09 billion in the first quarter, according to IVC. Thus Israeli startups continue to raise the record amounts seen over the past two years. Israeli startups raised nearly $700 million in January and February and this blistering pace was maintained in the first week of March.

Cyber security company Zimperium confirmed that it had raised $15 million from Japan's Softbank and app building company ScyllaDB raised $16 million from, among others, Samsung and Qualcomm. Among the smaller financing rounds closed since the start of March, contract review company LawGeex raised $7 million, online bra measuring company Brayola raised $5 million, predictive analytics company Endor raised $5 million and cyber security company Cymulate raised $3 million.

However, the medical arena has been strongest since the start of March with non-invasive blood testing company Cnoga leading the way, raising $50 million from China's BOE. Medication management company Medisafe raised $14.5 million, needle steering company XACT Robotics raised $5 million, and radiation shielding company RadiAction Medical raised $5.7 million.

February had ended with a flurry of financing rounds, the largest of which was drug development company Pharma Two B, which raised $30 million for a Parkinson's treatment trial. The first major financing closing of 2017 by an Israeli startup was also in the medical sector with smart shirt company Healthwatch raising $20 million.

The trend of Israeli startups closing large financing rounds continues, especially in January when nearly $450 million was raised. Flash storage company Kaminario raised $75 million and mobile ad analytics company Appsflyer raised $56 million. Cyber security, as in 2016, remains the hottest sector with SentinelOne raising $70 million, Transmit Security raising $40 millionDemisto raising $20 million, and Intsights Cyber Intelligence raising $15 million, among others.

Other major financing rounds were closed by Valens Semiconductor (raising $20 million), Aquarius Engines (raising $20 million), eCommerce company FeedAdvisor ($20 million), SaaS company Samanage ($20 million), enterprise software company Trax Image Recognition ($19.5 million), artificial intelligence company Chorus.ai ($16 million), co-working space company Mindspace ($15 million), smartphone camera company Corephotonics ($15 million), sports publishing company MinuteMedia ($15 million) and power electronics company visIC ($11.6 million). In fintech, VAT recovery company VATBox raised $20 million, Earnix raised $13.5 million and Credifi raised $13 million.

Published by Globes [online], Israel business news - www.globes-online.com - on March 10, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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CNOGA Photo: PR
CNOGA Photo: PR
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