Israeli companies are on track to beat last year’s record-breaking figure of $6.4 billion, according to Israeli media reports.

By JNS

Israeli startups raised $5.9 billion so far in 2019 and are on track to pass last year’s record-breaking figure of $6.4 billion, the Israeli business daily Globes reported on Wednesday.

Based on press releases from Israeli companies that have completed financing rounds, more than $1 billion was raised in September alone.

However, the true figure is likely even higher, as some companies do not reveal investment data, according to the report.

Israeli tech companies raised $650 million in July and $350 million in August, according to the IVC Research Center.

In September, credit company Fundbox raised $326 million, fintech firm Tipalti raised $76 million and open security platform Snyk raised $70 million.

In addition, drone defense company D-Fend raised $28 million, and 3D-printing company Xjet raised $45 million.

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Source: United with Israel