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Israel’s tech sector raises a record $25.4 billion in 2021; 33 tech startups joined the unicorn club | Tech News | Startups News

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2021 has been a blockbuster year for technology startups around the world. From crypto, DeFi, health, NFT, and renewable energy, investors have poured a record $240 billion into promising and innovative technology startups as of September 30, dwarfing 2020’s full-year total of $166 billion, according to figures from Pitchbook.

Although a lion’s share of these investments went to US-based tech startups, Israel’s startups are not so far behind considering the economic size of the country. According to a report from Start-Up Nation Central, Israel’s high-tech sector is closing the year with a bang, raising a record $25.4 billion in funding from January through November, up 136% over 2020.

During the same period, 33 companies joined the highly coveted unicorn club of private firms valued at over $1 billion, making a total of 53 unicorns, while 57 companies went public and raised $4 billion. In 2020, 22 companies raised $1.7 billion in IPOs.

A detailed analysis of the data further shows that funding in Israeli startups and companies was 71% more than the global average, and 78% more than in US companies, according to the report, which examined comparative data compiled by research firm Pitchbook.

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These record-setting numbers are a “reflection of global trends that are not necessarily Israel-specific, like the rise in investments in technologies, partially as a result of COVID-19 and the lessons of how much digital innovation and tech are key components of a strong and robust industry… but the numbers in Israel are stronger than the average,” Start-Up Nation Central CEO Avi Hasson told The Times of Israel in an interview Monday.

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The platform also noted that FinTech, enterprise IT and data infrastructure, and security technologies constitute the largest sectors in terms of funding, comprising 65% of total funding and each doubling last year’s total to emerge as the tech industry ecosystem’s main drivers.

There were also 74 funding rounds above $100 million since the beginning of the year, which is more than double the amount in 2020 and totalling nearly $15 billion. Insight Partners was the most active venture capital fund in Israel this year with 46 rounds, followed by 29 for Israel’s OurCrowd.

 


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