Israeli startups raise nearly $600m in September

Dollars Photo: Shutterstock

Startups raised at least $1.2 billion in the third quarter and have raised $3.5 billion since the start of the year.

Israeli startups have raised nearly $600 million during September, according to press releases issued by companies that have completed financing rounds. The figure may be more as some companies prefer not to publicize the investments they have received.

The high figure for September, well above the monthly average of $300-$400 million, was due to a whopping $250 million financing round closed by ridesharing company Via, which was led by Daimler. Innoviz, another auto-tech startup, which develops laser sensors, raised $65 million including investments from Tier 1 car suppliers Delphi and Magna. Also in the automotive sector, StoreDot, which is developing a quick-charging car battery, raised $60 million, also with an investment from Daimler.

Israeli startups raised nearly $1.2 billion in the third quarter, again according to press releases about completed financing rounds. According to IVC-Research Israeli startups raised $1 billion in the first quarter and $1.3 billion in the second quarter, for a total of $3.5 billion so far this year. This leaves the startup sector slightly off the record pace of 2016 when the country's startups raised $4.8 billion, according to IVC-Research.

Other major financing rounds closed in September include $35 million raised by digital content company Playbuzz, $32.5 million raised by drone company Airobotics, $25 million raised by cyber security company Aqua Security and $16 million raised by flash storage company Elastifile.

Medtech startups were prominent in fund raising in September although raising more modest amounts. Augmented reality surgery developer Augmedics raised $8.5 million, Enlivex Therapeutics raised $8 million and just today transcatheter developer Magenta Medical announced that it had raised $15 million.

Published by Globes [online], Israel business news - www.globes-online.com - on September 28, 2017

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

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Dollars Photo: Shutterstock
Dollars Photo: Shutterstock
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