Israeli bank notes. Photo: Pixabay.

JNS.org – Israel start-ups raised $1.1 billion in August alone, the Globes business daily reported on Sunday.

Citing research by the Israeli Venture Capital research center, the report stated that since some corporations choose to keep their investments out of the public domain, the actual figure might be even higher.

According to IVC, Israeli privately-owned digital companies raised a record $25.6 billion in 2021, more than double the previous record of $10 billion reached in 2020, the report continued.

Israeli entrepreneurs raised $10.9 billion in the first half of 2022. This means that despite falling short of last year’s record, companies have already raised more than all the funds raised in 2020, the report noted. In the first eight months of 2022, Israeli startups raised $12.7 billion in investments.

The report noted that in August, Israeli cloud-based networking software business DriveNets raised $262 million in the largest fundraising round of that month. Guesty, a short-term rental firm, raised $170 million last month, while HiBob, a human resources platform, $150 million.