Israel’s hi-tech companies set new record in fund raising in Q3

Israeli hi-tech companies raised about 2.24 billion U.S. dollars in funds in the third quarter of 2019, setting an all-time record, the Israeli IVC Research Center reported Tuesday.

In comparison, Israeli hi-tech companies raised 2.2 billion dollars in the second quarter of 2019, and 1.63 billion dollars in the third quarter of 2018.

The new record was set in 142 deals, up from 128 deals in the second quarter 2019, and 119 deals in the third quarter of 2018, according to the Israeli Hi-Tech Funding Report, written by IVC and ZAG-S&W law firm.

However, the quarterly record of 168 deals, set in the fourth quarter of 2018, was not broken.

The highest funding deals in the third quarter included 200 million dollars raised by Cybereason company from Japan’s Softbank company, and 176 million dollars raised by the fintech company Fundbox from several investors.

Israeli software companies accounted for 62.5 percent of the total amount raised in the third quarter, which was 1.4 billion dollars in 52 deals, up from 760 million dollars in the same quarter of 2018.

Israeli life sciences companies raised 350 million dollars in 38 deals in the third quarter, up from 238 million dollars in 29 deals in the same quarter of 2018.