Israel, the “Startup Nation,” raised a whopping $6.47 billion in 623 technology deals in 2018, according to a new report by IVC Research Center.

Data shows that $4.1 billion of the funds were raised by 100 firms in deals exceeding $20 million apiece, with 538 firms raising funds below $5 million each.

The tech sector earned 950 million more than in 2017, when 661 deals yielded $5.52 billion, and $1.37 billion more than in 2016.

Since 2013, annual high-tech funding has risen by approximately 120 percent.

According to the report, the number of deals below $5 million continued to increase, while deals over $20 million continued to grow, representing some 63 percent of funds raised in 2018.

Of the 2018 deals, $4.7 billions-worth were backed by venture capitalists.

The five biggest deals of the year were sealed by Landa Digital Printing at $300 million, Jfrog at $165 million, Insightec at $150 million, Trax at $125 million and eToro at $100 million.

The software sector increased by more than 50 percent since 2015, with life sciences, primarily medical devices, remaining stable.

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