Investment in private Israeli technology companies reached just $2.7 billion in the first five months of 2023.
Israeli startups raised $550 million in May 2023, according to press releases seen by Globes. The number may be higher because some companies prefer to remain anonymous and sometimes do not publish the investments they have received.
Investment in private Israeli technology companies slowed to just $1.7 billion in the first quarter of 2023, the Start-Up Nation Policy Institute (SPNI) reports. Investment in private Israeli technology companies reached just $2.7 billion in the first five months of 2023. Private Israeli technology companies raised $15 billion in 2022, according to IVC-Leumitech, after raising $25.6 billion in 2021, more than double The 2020 figure of $10 billion, which itself was a record. At the current rate, Israeli startups are unlikely to raise more than $7 billion this year.
Last year, Israeli startups raised $10.9 billion in the first half of the year and just $4.1 billion in the second half of the year, as sharp falls in the Nasdaq hit growth companies’ valuations. The amount raised in May 2023 corresponds to the amounts that startups were raising in the latter part of 2022.
In May, a larger funding round was led by vehicle inspection company UVEye, which raised $100 million. In other big funding rounds last month, heart pump maker Magenta Medical raised $55 million, smartphone-like medical device company Healthy.io raised $50 million, and Insurtech company Novidea raised $50 million.
Published by Globes, Israel business news – en.globes.co.il – on June 1, 2023.
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