Israeli startups raised whopping $1.1b in September

Dollars Photo: Shutterstock

Israeli tech companies, which raised a record $8.3 billion in 2019, have already raised over $7.6 billion in the first nine months of 2020, despite the Covid-19 crisis.

Israeli startups raised a whopping more than $1.1 billion in September, according to Start-Up Nation Central (SNC). The figure may be more as some companies prefer to remain in stealth and prefer not to publicize the investments they have received. This is a record one-month raise by Israeli startups and the first time more than $1 billion was raised in a single month.

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 $5.25 billion raised in the first half of 2020. Thus the $2.45 billion raised in July, August and September brings the total for the first nine months of the year to over $7.6 billion, well on course to surpass 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 in September. Insurtech company Next Insurance raised $250 million and cybersecurity company Snyk raised $200 million. Digital payments company Melio raised $80 million, cancer profiling company NovellusDX raised $57 million, facial recognition company AnyVision raised $43 million and payroll platform Papaya Global raised $40 million.

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

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

Dollars Photo: Shutterstock
Dollars Photo: Shutterstock
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