Report shows quarterly increases for the venture funding in Israel

By Marc Castro

Oct 15, 2013 10:37 AM EDT

In a report from Reuters, Israeli technology firms have raised USD660 million in venture in the third quarter. This is the highest amount reached in a quarter by the company since 2000. This was confirmed by the IVC Research Center said on Tuesday.

The amount collated in the period was 34% greater than the second quarter and 35% for the third quarter of 2012. This was contained in a report drafted by the IVC in cooperation of the KPMG. 

According to KPMG Technology Partner Ofer Sela, "There has been a continuing ris in the number of seed and first round financing transaction in recent years, resulting in dramatic increase in the overall number of VC-backed high-tech companies in Israel. We see this trend continuing, leading to (a) record number of deals in 2013 at both stages."

Sela added, "This trend is going to continue the size and volume of M&A in the Israeli market, as we have recently seen. We are likewise hopeful that some of these firms will continue to expand independently, raising capital through the IPO route."

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