Israel tech startup fundraising hits $2.9 bln in second quarter

JERUSALEM: Israeli tech startups raised $2.9 billion in the second quarter of 2024, the highest level in two years, IVC Data and Insights and LeumiTech said on Sunday, showing that the sector’s cash-raising ability remains robust despite Israel’s war with Palestinian Islamist group Hamas.

The number, based on preliminary figures, included a $965 million funding round by cyber security firm Wiz. Without it, startups raised $1.94 billion, up 19% from $1.63 billion in the first quarter.