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Israeli Startups Smash Funding Records, Reel In $10.5B In Just Six Months
By No Camels, June 10, 2021
Israel’s innovation technology sector broke another capital funding record this week and has now topped $10.5 billion since the start of the year – the same amount raised in all of 2020, according to Start-Up Nation Finder. This is the second major report to highlight 2021’s sizzling cash flow for blue-and-white startups in recent weeks.
“The market is clearly ‘red hot’ with a lot of money flowing into early and late-stage companies, some of which with valuations that don’t always make sense. Companies that raise now should manage their cash in a clever way, balancing between the desire to ‘push forward’ and gain a competitive edge while keeping some for a rainy day,” Lior Handelsman, General Partner at Grove Ventures, tells NoCamels.
Funding seems to be pouring into local startups especially in cybersecurity, fintech, and enterprise sectors, with companies in these spaces hauling in $6.2 billion or 60 percent of all investments.
The world demand for solutions in these fields — cybersecurity, fintech, and enterprise– are high in part due to the massive forward push of digitization in the wake of COVID-19.
“Part of that accelerated growth of course has to do with COVID-19, and continued low interest rates in the world, which is creating demand to invest in the tech sector,” Dekel Persi, co-founder and managing partner at TPY Capital, said in a statement.
According to the new report, Israel recorded an increase of 137 percent in funding growth for the first five months of 2021 compared to the first five months of 2020.
Most of the funding comes from foreign investors, according to the report. Investment performance worldwide stands at 89 percent, Europe has recorded an increase of 123 percent for the same period, the US has seen an increase of 91 percent and Asia has seen an increase of 69 percent, according to PitchBook data.
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