Israeli startup companies raised nearly $700 million in July, according to data released by the high tech sector. Industry insiders told financial daily Globes that the real figure is likely higher as some companies prefer not to make their records public.
Israel's high tech industry raised a record $8.3 billion in 2019; $6.4 billion in 2018, and $5.24 billion in 2017. The first half of 2020 began strongly with $5.25 billion raised, and the $700 million raised in July brings the total for the first seven months of the year to almost $6 billion – on course to exceed last year's record, and all despite the global coronavirus pandemic.
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According to the report, companies that develop remote working, healthcare, and cybersecurity instruments have done especially well.
Globes noted that nine companies raised two-thirds of the amount: Taxi-hailing app Gett saw a $100 million financing round followed by blood count device company Sight Diagnostics ($71 million), medical imaging company Nanox ($59 million), SaaS cloud company OwnBackup ($50 million), sales tech company Chorus.ai ($45 million), robotic solutions company Ecoppia ($40 million), Explorium ($31 million), cybersecurity company CyCognito ($30 million), and digital farming company Taranis, which raised $30 million.
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