The Israel Venture Capital (IVC) Research Center announced that Israeli high-tech firms were able to rake in US $493 million in venture capital during the second quarter. The figure is up by 4% compared with the first quarter's financing.
It was further revealed that the amount accumulated for the second quarter was 3% higher than the funds raised during the same period in 2012. IVC made this accounting together with KPMG, an Israeli office of consultancy.
"The uptick in investments in the second quarter reflected in part relatively robust activity in the medical devices segment," said a partner at KPMG's technology group Ofer Sela.
"Yet, more than two years after the launch of the Israeli government initiative to promote investments in the life sciences, the sector as a whole is still not showing the expected results," Sela added.
High-tech companies in Israel have been regarded as key drivers of the country's economy. It has prompted growth of up to 3.2% last year.