Israeli startups raised nearly $800m in October

Dollars Photo: Shutterstock

Israeli tech companies, which raised a record $8.3 billion in 2019, have already raised over $8.8 billion in the first 10 months of 2020, despite the Covid-19 crisis.

Israeli startups raised nearly $800 million in October, according to Start-Up Nation Central (SNC). The figure may be more as some companies prefer to remain in stealth and sometimes do not publicize the investments they have received. October's high figure follows the record one-month raise of over $1.1 billion in September by Israeli startups, which was the first time that more than $1 billion was raised in a single month.

Israeli tech companies raised $8 billion in the first nine months of 2020, according to IVC-ZAG, nearly equaling the record $8.3 billion raised in 2019, 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. October's haul of nearly $800 million raised by startups already surpasses 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.

A small handful of companies raised most of the money - nearly $500 million - in October. B2B fintech company Tipalti led the way last month raising $150 million and digital intelligence company SimilarWeb raised $120 million. Machine monitoring company Augury raised $55 million, code risk developer apiiro raised $35 million, visual assistance company TechSee raised $30 million, product discovery company Syte raised $30 million, enterprise AI software company BlackSwan raised $28 million, SaaS co Salto Labs raised $27 million, and cybersecurity company Toka raised $20 million.

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

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

Dollars Photo: Shutterstock
Dollars Photo: Shutterstock
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