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IVC-LeumiTech: Israeli startups raised $1.6b in Q1

High-tech credit: Shutterstock
High-tech credit: Shutterstock
28 Mar, 2024 14:41
שלח תגובה במיילMeytal Vaizberg

There were six financing rounds of $100 million or more completed in the first quarter of 2024.

Israeli startups raised $1.6 billion in 105 financing rounds in the first quarter of 2024, up 10% from the preceding quarter of 2023 but down 10% from the corresponding quarter of 2023, IVC-LeumiTech reports in its Tech Review.

The number of financing rounds has been consistently falling since the start of 2022 but reflects a 34% rise from the fourth quarter of 2023. The report found that the number of seed and Series A financing rounds completed in the first quarter of 2024 jumped to 80, up 40% from the preceding quarter. Earlier rounds represented 77% of the overall number of financing rounds in the first quarter, which is significantly higher compared with the average of these rounds out of total financing rounds in previous quarters.

Initial data also indicate that the involvement of foreign investors in the first quarter of 2024 increased compared with the previous quarter, while the downward trend in participation by local investors also ended in the first quarter of this year.

Cybersecurity companies raised $620 million

IVC Data and Insights CEO Ben Klein said, "After three consecutive quarters in which there was falls recorded in the number and amount of financing rounds raised by Israeli tech companies, the data for the first quarter of 2024 surprises for the good. Despite the damage to the economy and the country, analysis of the data indicates stabilization and improvement, even if only modest, in most of the financial parameters of Israeli tech."

In addition, according to the initial figures, there were six huge deals in the first quarter of 2024, with 'huge' defined as above $100 million, representing 47% of all the money raised in the quarter. Most of these huge deals were in cybersecurity. In these huge financing rounds $752 million was raised in the first quarter of which $620 million was raised by cybersecurity companies, representing 38% of the overall amount raised.

Published by Globes, Israel business news - en.globes.co.il - on March 28, 2024.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2024.

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