Israeli startups raised $550m in October

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Startups have raised at least $4.35 billion in the first ten months of 2017.

Israeli startups raised at least $550 million during October, 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.

Startups raised a record $3.8 billion in the first nine months of 2017, IVC-ZAG reported in October, meaning that Israeli startups have raised at least $4.35 billion in the first ten months of the year and are on course to beat 2016's record startup raising of $4.8 billion.

The new trend by which fewer startups are raising more money was clearly seen in October with three companies responsible for 68% of the total amount raised. Israel cybersecurity company Skybox raised $150 million, fintech company BlueVine raised $130 million and cloud storage solutions company Infinidat raised $95 million.

Other major financing rounds included video creation platform Wibbitz, which raised $20 million, video-tech developer Connatix, which raised $15 million and life sciences companies Azura Ophthalmics, which raised $16 million and catheterization developer Cathworks, which raised $15.8 million.

Fintech company BondIT attracted a $14.25 million investment from China's Fosun Group, Internet-of-Things company mPrest attracted a $10 million investment from New Zealand utility giant Vector and car sensor developer Innoviz Technologies attracted an $8 million investment from Samsung and Softbank, increasing its Series B financing round, announced in September, to $73 million.

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

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

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dollars  picture: Thinkstock
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