Israeli tech companies raised $2.9 billion in the second quarter of 2024, according to a joint report by data-source company IVC Data and Insights and LeumiTech, which specializes in banking for high-tech firms.

The amount is is the most raised by Israeli tech firms since the second quarter of 2022 when $5 billion was raised, Israeli business site Globes reported.

Funds raised in the second quarter of this year were 47% higher than the corresponding quarter of 2023 and 78% higher than first quarter of this year ($1.62 billion), according to the report.