Israeli tech companies have already raised considerably more money in 2019 than in all of 2018.
Israeli startups raised over $800 million in October, 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 $6.14 billion in the first nine months of the year, according to IVC, Israeli tech companies have now raised $6.94 billion since the start of 2019. This figure already surpasses the record $6.4 billion raised by Israeli tech companies in 2018, which according to IVC was up from $5.24 billion in 2017.
October was a busy month for startup financing rounds despite the holidays with insurtech company Next Insurance leading the way with a $250 million financing round.
More than $600 million was raised by just seven startups last month. Retail logistics company Fabric raised $110 million, fintech company Rapyd raised $100 million and stroke diagnosis company Viz.ai raised $50 million. Cybersecurity company Namogoo raised $40 million, vehicle cybersecurity company Upstream Security raised $30 million and AI accounts payable company Stampli raised $25 million.
Published by Globes, Israel business news - en.globes.co.il - on November 3, 2019
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