Israeli hi-tech companies raise over $650 million in July

This sum can be added to the more than $3.1 billion that Israeli startups raised in the first half of 2018.

By GLOBES/ TRIBUNE NEWS SERVICE

AUGUST 1, 2018 14:32

Updated: AUGUST 2, 2018 07:28

An aerial shot of Tel Aviv during Israel's annual Independence Day airshow, April 19, 2018 (photo credit: ANNA AHRONHEIM) — An aerial shot of Tel Aviv during Israel's annual Independence Day airshow, April 19, 2018

(photo credit: ANNA AHRONHEIM)

TEL AVIV (TNS) - Israeli startups raised over $650 million in July, according to press releases issued by companies that have completed financing rounds. The figure may be more as some companies prefer not to publicize the investments they have received.

This sum can be added to the more than $3.1 billion that Israeli startups raised in the first half of 2018, according to IVC-ZAG. The country's startups have raised over $3.7 billion in the first seven months of 2018 and are on course to beat last year's record of $5.24 billion, according to IVC-ZAG.

The largest amount raised in July was $125 million by Trax Image Recognition. There were other large financing rounds including $83 million raised by insurtech company Next Insurance, $55 million raised by advanced 3D content capture and sharing technologies Mantis Vision and $50 million raised by team management software provider Monday.

Other major financing rounds in July included $33 million raised by cybersecurity company ObserveIT, $30 million raised by big data company Thetaray and $28 million raised by facial recognition company AnyVision.