Israeli startups raise $356m in first half of June

startup photo: Shutterstock

Israeli startups have set a blistering pace in their latest financing rounds to defy the global high-tech slowdown.

Despite a global slowdown in the high-tech sector, Israeli startups began June at a blistering pace in terms of financing rounds raising $237 million in the first week alone. In the second week, the pace slackened somewhat but an impressive $119 million was raised, bringing the tally in the first half of the month to $356 million.

The highlights of the first week were the $50 million raised by website guide developer WalkMe and the $40 million raised by image retail recognition company Trax. Other big financing rounds were $32 million raised by data storage company Weka.IO, $30 million by smart video company SundaySky and $25 million each by mobile cyber security developer Zimperium and patient monitoring device company EarlySense raised $25 million.

In the second week, the financing rounds were smaller but still substantial for some companies. Content recommendation company Yotpo raised $22 million and video marketing company Eyeview raised $21.5 million. Flash storage company Elastifile raised $15 million from Cisco, augmented reality company Lumus raised $15 million from Chinese investors and online therapy company Talkspace also raised $15 million.

Smaller financing rounds in the second week included $10.5 million raised by car dashboard camera company Nexar and $6.6 million raised by baby sleep monitoring company Nanit. Dark Internet security company Sixgill raised $5 million and messaging security company Nuro Secure Messaging raised $2.6 million. Screen enhancement company FORTVISION raised $2.5 million while cyber security company Armeron and industrial IoT company DeepSense each raised $2 million.

Published by Globes [online], Israel business news - www.globes-online.com - on June 16, 2016

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

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startup photo: Shutterstock
startup photo: Shutterstock
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