Israeli startups raised nearly $1b in April

Dollars Photo: Shutterstock

Israeli tech companies, which raised a record $8.3 billion in 2019, have raised $3.7 billion in the first four months of 2020.

Despite the global coronavirus pandemic economic crisis, Israeli startups raised nearly $1 billion in April, according to press releases issued by companies that have completed financing rounds. 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. In some instances, financing rounds by tech companies that facilitate remote working and healthcare and cybersecurity, have been boosted rather than hampered by the Covid-19 crisis.

Financing rounds in April were led by behavioral biometrics company BioCatch, which raised $145 million, and flash storage platform Vast Data, which raised $100 million. Other large financing rounds were from cloud security company Cato Networks, which raises $77 million, smart dashcam company Nexar, which raised $52 million, remote healthcare company Tyto Care, which raised $50 million, vehicle data platform Otonomo, which raised $46 million, and analytics platform Glassbox, which raised $40 million.

Published by Globes, Israel business news - www.globes-online.com - on May 3, 2020

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

Dollars Photo: Shutterstock
Dollars Photo: Shutterstock
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