In 2018, Investors Doubled Down on Israeli Artificial Intelligence Startups
Israel-linked AI companies brought in $1.89 billion in funding in 2018, according to a new report
Hagar Ravet | 12:30, 10.01.19
In a new end-of-year report on the Israeli tech sector, artificial intelligence startups take center stage, and 70% of the money pouring into Israeli tech is foreign.
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On Wednesday, Tel Aviv-based market research firm IVC Research Center Ltd., in collaboration with Israeli law firm Zysman, Aharoni, Gayer and Sullivan & Worcester LLP., published its summary report on Israeli tech and venture capital in 2018. Local tech companies raised a record $6.4 billion across 623 deals, 17% more than in 2017, according to the report. The fourth quarter of 2018, the year’s strongest, saw a total of $1.82 billion in investments in Israeli-linked companies. Software companies with what report authors describe as “AI characteristics” brought in $1.89 billion in funding in 2018. Life sciences startups faired well in 2018, with total funding of $1.2 billion across 126 deals. Half that sum poured into medical devices companies. Fintech startups had a strong year, with the highest annual investment since 2013, $941 million, and prominent deals such as social trading company eToro’s $100 million funding, announced in March.
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