Despite the ongoing war and slowing economy, Israeli startups raised $2.9 billion, the first quarter-over-quarter increase since 2022.
The second-quarter fundraising increase was 48% higher than the $1.96 billion raised during the same period in 2023.
Most of the gain was secured through funding for cybersecurity startups, with some investors providing over $100 million. The sector commanded 62% of the quarter’s fundraising.
The strongest performer was US-Israeli cybersecurity unicorn Wiz, which raised $965 million and has an outstanding valuation of $12 billion.
Also impressive was the fact that, in spite of the war in Gaza, fundraising for startups was up 19% in the first three months of the year.
