May 2024 in Israeli tech funding: $1.46 billion in 19 deals
May 2024 in Israeli tech funding: $1.46 billion in 19 deals
Thanks to the biggest funding round in Israeli tech history courtesy of Wiz, local startups raised over $1 billion for a second straight month
Over $1.46 billion were raised by Israeli startups across 19 deals during May, the second straight month in which the $1 billion mark was broken. Local startups had previously gone since August 2022 without reaching that figure over a single month.
While the massive amount raised is encouraging, it is important to remember that more than two thirds of it came courtesy of Wiz, which raised $1 billion at a $12 billion valuation in the biggest funding round ever for an Israeli startup.
Nevertheless, the promising May came on the back of a strong March and April, with Israeli startups raising a total of more than $3.3 billion over the last three months.
The sum raised in May was also more than double that from the same month last year when local tech companies netted a total of $606 million.
A majority of the rounds last month were once more early stage (11 Seed and Series A), but in addition Wiz, Weka ($140 million) also netted an impressive growth round, and the likes of XTEND ($40 million), Honeycomb ($36 million), and Agora ($34 million) registered significant Series B rounds.
See the full list of the May deals below (The list includes funding rounds of over $5 million that were officially announced during May):
29.5.24
Firefly co-founder Sefi Genis was murdered in the brutal attack by Hamas at the Nova party. “In the early days, we did not know if we would survive. It hurts every day, but we are not in mourning. We are building Sefi's legacy,” said CEO Ido Neeman
27.5.24
The company's 2-armed robots are designed to navigate the dynamic and complex environments of hospitals, performing repetitive tasks such as delivering meals and supplies, directing patients and visitors, transporting Personal Protective Equipment (PPE), and engaging with elderly patients in cognitive activities
The Israeli startup's system, already installed on ships operated by major companies including MSC and Maersk, reduces the number of marine accidents, optimizes sailing, and thus reduces fuel consumption and air pollution
23.5.24
The Israeli startup’s FinOps platform is used by leading global brands, including Lyft, the New York Times, Choice Hotels, Wiz, Tenable, and Appsflyer, to optimize cloud expenditure and allocate costs across all cloud providers and services
22.5.24
Its SaaS platform can help SMBs efficiently, cost-effectively, and accurately review and advance contracts without relying on a legal department or outside legal counsel
16.5.24
The Israeli startup's solutions include tech-enabled financial services, including expert tax, bookkeeping, and international money transfer services
15.5.24
The Israeli startup more than doubled its valuation from November 2022, with its ARR in 2024 expected to reach over $100 million
9.5.24
The Israeli startup, founded by Samuel Cohen, Benny Schnaider and Michael Cohen, uses synthetic data for granular insights after proving that it could augment under-sampled segments with a high degree of accuracy using proprietary algorithms
8.5.24
The Israeli startup’s platform aims to help mid-market and large companies to gain full visibility and control over their cash operations and to optimize their liquidity by leveraging AI-driven automation and insights
The Israeli startup’s XOS operating system aims to provide robots and drones with AI capabilities and help them partner with humans
Token Security brings visibility and continuous threat exposure management to the space by introducing the machine-first approach
7.5.24
The four-year-old decacorn, which took its total funding to date to $1.9 billion, said it will use the latest round of funding to help drive future M&A efforts, along with talent recruitment and product development
The Israeli startup insures more than $21 billion worth of real estate assets and expects to triple that number in the next 12 months
6.5.24
The Israeli startup’s optimization engine runs billions of permutations in seconds and is tailored to make predictions based on industry-specific factors, automatically generating alternative schedules for ORs that significantly improve resource allocation
2.5.24
The Israeli startup’s Enterprise Browser Extension integrates with any browser, helping enterprises to secure their devices, identities, data, and SaaS apps from web-borne threats and browsing risks
Its POCAD solution provides AI-powered diagnoses that are accurate and easy to understand for physicians
The Israeli company has built a security platform that provides organizations with comprehensive visibility of their AI activity
1.5.24
The Israeli startup’s solution aims to tackle the exponential growth of Non-Human Identities which malicious attackers are exploiting with increased efficacy
The Israeli startup’s new hybrid drugs combine traditional drugs with its “digital molecules.” Digital molecules are therapeutic interventions that trigger physiological effects through the brain
