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Israeli high-tech firms raised record $6.47 billion in 2018

Reuters  |  TEL AVIV 

(Reuters) - Israeli private companies raised a record $6.47 billion in 2018, up 17 percent from 2017, the Research Center and firm said on Wednesday.

In the fourth quarter firms raised a record $1.82 billion, up 8 percent from the third quarter, the IVC-report showed.

"Most of the capital was raised by well-established companies with annual revenues of up to $10 million in the verticals of AI (artificial intelligence) and cyber security," said Marianna Shapira,

Last year was the strongest year for Israeli cyber security companies, which raised $1.08 billion. Life science firms' capital raising held steady at $1.2 billion.

"Over the course of 2018, there was a noticeable trend of foreign funds and investors, whose investments in rose by more than $1 billion compared to last year," said

(Reporting by Tova Cohen, Editing by Ari Rabinovitch)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 09 2019. 20:13 IST