Israeli startups raise $700m in 2017 so far

Startup

Israeli startups are keeping pace with last year when a record $4.8 billion was raised, according to IVC.

Israeli startups raised nearly $700 million in January and February, "Globes" has found. This is keeping pace with last year when Israeli startups raised a record $4.8 billion, according to IVC. In the first quarter of 2016, Israeli startups raised $1.09 billion. The pace of financing is all the more impressive in the light of consistent reports of a downturn in startup financing in the US.

The trend of Israeli startups closing large financing rounds continues, especially in January when nearly $450 million was raised. Flash storage company Kaminario raised $75 million and mobile ad analytics company Appsflyer raised $56 million. Cyber security, as in 2016, remains the hottest sector with SentinelOne raising $70 million, Transmit Security raising $40 millionDemisto raising $20 million, and Intsights Cyber Intelligence raising $15 million, among others.

February ended with a flurry of financing rounds, the largest of which was drug development company Pharma Two B, which raised $30 million for a Parkinson's treatment trial. The first major financing closing of 2017 by an Israeli startup was also in the medical sector with smart shirt company Healthwatch raising $20 million. Other major financing rounds were closed by Valens Semiconductor (raising $20 million), Aquarius Engines (raising $20 million), eCommerce company FeedAdvisor ($20 million), SaaS company Samanage ($20 million), enterprise software company Trax Image Recognition ($19.5 million), artificial intelligence company Chorus.ai ($16 million), co-working space company Mindspace ($15 million), smartphone camera company Corephotonics ($15 million), sports publishing company MinuteMedia ($15 million) and power electronics company visIC ($11.6 million). In fintech, VAT recovery company VATBox raised $20 million, Earnix raised $13.5 million and Credifi raised $13 million.

Published by Globes [online], Israel business news - www.globes-online.com - on March 1, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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