Despite the market slowdown, Israel’s technology sector seems to be doing well. The Israel Venture Capital research center released promising figures about last quarter’s venture capital funding. Third quarter VC funding in the Israeli tech sector rose by 45% as compared with the same period last year.
Around $600 million was raised by 124 companies last quarter. By contrast, in the third quarter of 2007, $414 million was raised.
The top sector to raise capital was communication followed by Internet.
The downside of the news is that Just 28% of the funding went to new startups. A year ago, 51% of the funding was for new startups.
Via: Globes Online