Israeli Startups Raised a Record $1.7b Last Quarter

The results defied the dire forecasts that were made for Israel’s tech sector at the start of the year. While it’s too early to say definitively, the first six months suggest that 2016 could be a record-shattering year for the country’s startups.

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Israeli high-tech companies broke a quarterly fundraising record, drumming up $1.7 billion in 187 financing deals, Israel Venture Capital Research Center reported Wednesday.