Despite the war, investments in Israeli startups in the first nine month of 2024 amounted to $7.22 billion, up 32% from the first nine months of 2023, IVC-LeumiTech reports in its quarterly survey.
There is a certain upward bias in the data due to IVC's definition of Safe Superintelligence (SSI) as an Israeli company. The company raised $1 billion in the past quarter based at a company valuation of $5 billion, and due to the fact that its founders are former Israelis who are establishing a branch of the company in Tel Aviv, the safe AI development company has boosted total investments in Israeli companies by $1 billion.
Even so, when taking out large financing rounds of over $100 million from the figures, investments in startups in the third quarter of 2024 amounted to $1.33 billion, 5% higher than in the corresponding quarter of 2023.
In the third quarter of 2024, Israeli startups and growth companies raised $2.43 billion in 99 financing rounds, up 40% from the corresponding quarter of 2023, although 41% of the amount raised in the third quarter this year was by SSI.
However, the amount raised in the third quarter and the number of financing rounds were down 20% and 17% respectively from the preceding quarter.
Published by Globes, Israel business news - en.globes.co.il - on September 30, 2024.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2024.