Israeli tech companies have raised $2.32 billion in the second quarter of 2019, the highest sum raised in a single quarter since 2013, according to a joint report released Wednesday by Tel Aviv-based research firm IVC Research Center and the Israel office of international law firm Zysman, Aharoni, Gayer & Co. (ZAG-S&W).

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In the first six months of 2019, Israeli tech companies raised $3.87 billion across 254 deals, more than 60% of the total investments made in 2018, according to the report.

Tel Aviv. Photo: Shutterstock

The median deal amount for Q2 was $5.5 million, compared with $5 million in the same period last year and $6 million in Q1 2019.

Late-stage companies raised record amounts in the second quarter of 2019 but for mid-stage companies funding was lower than in recent years, Shmulik Zysman, a managing partner at ZAG-S&W, said in a statement.

Information technology and software companies raised the highest sum of $1.02 billion in 49 deals in Q2, while life sciences companies came in second with $263 million in 27 deals.