Israeli startups raised over $650m in March

Dollars Photo: Shutterstock

Israeli tech companies, which raised a record $8.3 billion in 2019, have raised $2.15 billion in the first three months of 2020.

Despite the global coronavirus pandemic economic crisis, Israeli startups raised over $650 million in March, 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 has begun strongly, although it is difficult to see 2020 being yet another record year with the expected recession following the virus crisis. Nevertheless, Israeli tech companies have raised over $2.15 billion in the first three months of the year, compared with $1.45 billion in the corresponding period of 2019.

Financing rounds in March were led by smart travel ridesharing company Via, which raised $400 million. AI chipmaker Hailo raised $60 million and cybersecurity company Axonius raised $58 million.

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

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

Dollars Photo: Shutterstock
Dollars Photo: Shutterstock
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