JERUSALEM, Dec. 29 (Xinhua) -- Fundraising by Israel's hi-tech companies rose for the first time in three years by 38 percent year-on-year in 2024, amounting to 9.58 billion U.S. dollars, according to data from IVC and LeumiTech Tech Review 2024.

The Tech Review, written by the Israeli IVC Research Center, a hi-tech data source company, and LeumiTech, a subsidiary of Israel's Bank Leumi, said that Israeli hi-tech companies raised 6.9 billion dollars in 2023, following 15.64 billion dollars in 2022, and a record 26.03 billion dollars in 2021.

The total amount in 2024 was raised in 443 deals, up 13 percent compared to 392 deals in 2023, the report said.

The authors also noted that the cybersecurity sector dominated Israel's hi-tech industry throughout the year, accounting for 38 percent of the total funds raised in 2024.

Mega-fundings of over 100 million dollars each accounted for about 48 percent of the total capital raised this year, the report said, noting 2024 still showed growth compared to the previous year excluding mega-deals.

In the current fourth quarter, Israeli hi-tech raised 2.36 billion dollars, up 62.8 percent year-on-year. Enditem

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