Israel is known for its internet start-ups, but the assumption that these companies will get gobbled up may be a thing of the past.
Late-stage tech companies in Israel raised $447 million in the second quarter, double the amount in the first quarter, according to IVC Research center. The qualification to be considered a mature company is to generate $10 million in sales. These companies were the recipients of 48% of tech funding, which was at its highest level in 14 years. The success of Mobileye, which makes technology for driverless cars and raised$890 million on its IPO, the largest ever for an Israeli company, is showing that a number of these Israeli start-ups may reap significant rewards by staying independent and developing.
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