July 24, 2018 / 11:22 AM / a year ago

Israel private high-tech firms raise record $3.2 bln in 1st half

TEL AVIV, July 24 (Reuters) - Israeli private high-tech companies raised a record $3.2 billion in the first half of 2018, up 37 percent from a year earlier, the Israel Venture Capital Research Center and ZAG law firm said on Tuesday.

In the second quarter high-tech firms raised $1.61 billion, including $300 million raised by Landa Digital Printing from private investment firm SKion GmbH and German specialty chemicals group Altana. This compares with $1.58 billion in the first quarter and $1.27 billion a year earlier, the IVC-Zag report showed.

Zag managing partner Shmulik Zysman said capital raised from foreign investors was growing, “due to an increase in investments from China, as well as from European investors who are interested, among other things, in automotive technology”.

This trend is expected to continue, he said.

Software companies raised the most funds in the second quarter with $584 million. Artificial intelligence companies raised $426 million. (Reporting by Tova Cohen Editing by Steven Scheer)

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