Cyera ($540m), AI21 Labs ($300m), and Cato Networks ($239m) top the charts for capital raised in 2025’s second quarter. Read the latest report: Israel Tech Review Q2/2025.The first half of 2025 closed on a strong note, with Israeli tech companies crossing the $5 billion mark for the first time since H2/2022, when 200 deals totaled $5.23 billion, according to Q2/2025 TechReview published today by IVC and LeumiTech.In Q2 alone, companies raised $2.97 billion across 98 deals. Five major rounds of over $100 million made up 44% of the capital raised. Leading the quarter were Cyera ($540 million), AI21 Labs ($300 million), and Cato Networks ($239 million). According to IVC's methodology, the estimated total raised in the second quarter is nearly $4 billion in 191 deals.In the first half of 2025, Israeli tech exits totaled $5.55b. The $2.5b acquisition of Melio by Xero significantly increased the overall exit value. The underlying activity remained modest, with 62 exits, a slight decline from H2/2024, but an uptrend following the 2023 lows.The figure is still below the pre-2021 half-year average of around 80 exits: Google announced the acquisition of Wiz for $32 billion in the first quarter; and ERGO announced the acquisition of Next Insurance for $2.6 billion. However, acquisitions are not yet completed; notably, two IPOs occurred in Q2/2025, following no initial public offerings in Q1/2025.Explore the full report, now published in a new format with fresh visual insights and updated design, powered by IVC's latest data visualization tools: Israeli Tech Review Q2/2025