A new report from Start-Up Nation Central reveals that Israel’s innovation technology sector broke a new capital funding record: a total of $10.5 billion raised since the start of the year.

The same amount was raised throughout the whole of 2020, which was itself a record year, in less than half the time.

Israel recorded an increase of 137 percent in innovation investment for the first five months of 2021 compared to the first five months of 2020, the report says, while the increase globally was only 89%. This means Israel now leads the world in funding growth.

“The record funding in 2021 indicates that the growth in 2020 was not a short-term Covid-related boost but reflects top investors’ increasing trust in the Israeli innovation ecosystem,” said Uri Gabai, incoming CEO of Start-Up Nation Central’s new Research and Policy Institute.

“The significant increase in median deal size reflects a maturing ecosystem that is able to maintain its competitive edge as a global hub of technological innovation and offering problem-solving solutions.”

The median funding round amount more than doubled year-over-year from $6.8 million in 2020 to $14 million by June 8 in 2021.

The median growth round (Series B or higher) rose from $26 million in 2020 to $46 million in 2021. Early-stage companies experienced a similar boost in median funding from $4 million to $8 million.

The report shows that 2021 has already set a record for the number of mega-rounds (investments of over $100 million) raised, with 30 completed so far compared to 21 mega-rounds throughout all of 2020. These rounds represent 53% of all capital raised, and for the first time, they account for more than half of the total funds invested.

The bulk of funding went to cybersecurity, fintech, and enterprise solutions companies. These sectors received an accumulated $6.2 billion or 60% of all investments, fueled by huge increases in demand for their solutions over the last year as work practices changed.