Israeli startups raised $600m in November

Dollars Photo: Shutterstock

The country's startups have raised a record $5.7 billion since the start of 2018.

Israeli startups raised nearly $600 million in November, according to press releases issued by companies that completed financing rounds. The figure may be more as some companies prefer not to publicize the investments they have received.

This sum can be added to the $4.5 billion that Israeli startups raised in the first nine months of 2018, according to IVC-ZAG as well as the estimated $600 million raised in October. This means that the country's startups have raised a record $5.7 billion since the start of 2018, easily surpassing last year's record of $5.24 billion.

Most of the sum in October was raised in large financing rounds led by Habana.ai, which has developed the world's fastest AI chip, and raised $75 million. Another chipmaker, Valens Semiconductor raised $63 million and app developer Lightricks raised $60 million. Velox raised $32 million, OpenLegacy raised $30 million and SysAid raised $30 million.

Published by Globes, Israel business news - en.globes.co.il - on December 2, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

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Dollars Photo: Shutterstock
Dollars Photo: Shutterstock
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