Israeli startups raised $700m in July

Dollars Photo: Shutterstock

Israeli tech companies, which raised a record $8.3 billion in 2019, have already raised almost $6 billion in the first seven months of 2020, despite the Covid-19 crisis.

Israeli startups raised nearly $700 million in July, according to press releases issued by tech companies. 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 $5.25 billion raised in the first half of 2020. Thus the $700 million raised in July brings the total for the first seven months of the year to almost $6 billion, well on course to surpass last year's record amount, 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.

Nine companies raised two thirds of the amount. Taxi hailing app Gett led the way in July with a $100 million financing round, blood count device company Sight Diagnostics raised $71 million, while medical imaging company Nanox raised $59 million and SaaS cloud company OwnBackup raised $50 million. Sales tech company Chorus.ai raised $45 million, robotic solutions company Ecoppia raised $40 million, data discovery company Explorium raised $31 million, cybersecurity company CyCognito raised $30 million, and digital farming company Taranis raised $30 million.

Published by Globes, Israel business news - en.globes.co.il - on August 2, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Dollars Photo: Shutterstock
Dollars Photo: Shutterstock
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