Record high-tech funds raised in 2016

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Israeli high-tech companies have raised at least $4.6 billion this year, up from $4.4 billion in 2015.

As 2016 winds down, Israel's high-tech industry can reflect on a year of record financing. Israeli high-tech companies have raised at least $4.6 billion this year, up from $4.43 billion in 2015, a check by "Globes" has found.

In October, IVC-KPMG reported that Israeli high-tech companies had raised $4 billion in the first nine months of 2016, up 27% from the corresponding period of 2015. Israeli high-tech companies raised $1.19 billion in the third quarter of 2016, the second highest quarterly amount in 10 years,

December is traditionally a relatively quiet month in terms of startups closing financing rounds but to date Israeli companies have raised over $200 million so far this month, and $600 million in the fourth quarter. In the past 24 hours alone, augmented reality company Lumus announced that it had raised $30 million, to add to the $15 million it raised in June, and personalization platform Dynamic Yields reported the closing of a $22 million financing round.

Earlier in the month, fintech startup BlueVine reported that it had raised $49 million, to add to the $40 million it raised in January, and video chat company Life on Air raised $52 million. Insurtech startup Lemonade raised $34 million.

Published by Globes [online], Israel business news - www.globes-online.com - on December 20, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

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Startups Photo: Shutterstock
Startups Photo: Shutterstock
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