Israeli startups raised record $2.8b in March

dollars  picture: Thinkstock

In a stunning month for startup capital raising, Israeli tech startups doubled the record set in January.

Israeli startups raised a record $2.8 billion in March 2021, according to press releases from the companies and their investors. The figure may be more as some companies prefer to remain in stealth and sometimes do not publicize the investments they have received. The stunning figure for startup capital raising in March nearly doubled the previous monthly record of $1.44 billion, set in January.

Israeli tech companies have already raised $5.3 billion in the first three months of 2021, half the record $10 billion raised in all of 2020, according to IVC-ZAG.

In many instances, financing rounds by tech companies that facilitate remote working and healthcare and cybersecurity, have been boosted rather than hampered by the Covid-19 pandemic.

In March there were many huge financing rounds completed with ten companies raising over $100 million including four companies raising over $200 million. Cybersecurity company Snyk raised $300 million, insurtech company Next Insurance raised $250 million, ecommerce marketing platform Yotpo raised $230 million and cybersecurity company Orca Security raised $210 million.

Cybersecurity company Aqua Security raised $135 million, digital assets security company Fireblocks raised $133 million, cloud security company Wiz raised $130 million, public transport AI platform Optibus raised $107 million, international payments company Papaya Global raised $100 million, and advanced sensor based solutions company Xsight Systems raised over $100 million.

There were other large financing rounds by fintech company Capitolis, which raised $90 million, weather intelligence company ClimaCell raised $77 million, blockchain scale-up company Starkware raised $75 million, AI stroke care company Viz.ai raised $71 million, gaming app developer Overwolf raised $52.5 million, Zoomin Software raised $52 million, cybersecurity company Axis Security raised $50 million, telemedicine company Tytocare raised $50 million, fraud prevention company Identiq raised $47 million.

Published by Globes, Israel business news - en.globes.co.il - on April 1, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

dollars  picture: Thinkstock
dollars picture: Thinkstock
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