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  <schemaVersion>X0202</schemaVersion>
  <headerData>
    <submissionType>13F-HR</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <flags>
        <confirmingCopyFlag>false</confirmingCopyFlag>
        <returnCopyFlag>false</returnCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
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      <filer>
        <credentials>
          <cik>0002030525</cik>
          <ccc>XXXXXXXX</ccc>
        </credentials>
      </filer>
      <periodOfReport>09-30-2025</periodOfReport>
    </filerInfo>
  </headerData>
  <formData>
    <coverPage>
      <reportCalendarOrQuarter>09-30-2025</reportCalendarOrQuarter>
      <filingManager>
        <name>Sphera Management Technology Funds Ltd</name>
        <address>
          <com:street1>4 ITZHAK SADE BUILDING A</com:street1>
          <com:street2>29TH FLOOR</com:street2>
          <com:city>TEL AVIV</com:city>
          <com:stateOrCountry>L3</com:stateOrCountry>
          <com:zipCode>6777520</com:zipCode>
        </address>
      </filingManager>
      <reportType>13F HOLDINGS REPORT</reportType>
      <form13FFileNumber>028-25263</form13FFileNumber>
      <provideInfoForInstruction5>Y</provideInfoForInstruction5>
      <additionalInformation>Investment discretion with regard to the securities reported herein is exercised by Sphera Management Technology Funds Ltd ("Sphera Management Technology"). This Form 13F shall not be construed as an admission by Sphera Management Technology that it is the beneficial owner of any of the securities covered by this Form 13F, and Sphera Management Technology disclaim beneficial ownership of any such securities. Per informal guidance received from the Division of Investment Management, section 13(f) securities that are dual listed on a U.S. stock exchange and the Tel Aviv Stock Exchange were included in this Form 13F only if they were purchased in the U.S..</additionalInformation>
    </coverPage>
    <signatureBlock>
      <name>Oshrat Levi</name>
      <title>Chief Financial Officer</title>
      <phone>972 3 6845617</phone>
      <signature>Oshrat Levi</signature>
      <city>Tel Aviv</city>
      <stateOrCountry>L3</stateOrCountry>
      <signatureDate>11-14-2025</signatureDate>
    </signatureBlock>
    <summaryPage>
      <otherIncludedManagersCount>0</otherIncludedManagersCount>
      <tableEntryTotal>67</tableEntryTotal>
      <tableValueTotal>317596412</tableValueTotal>
      <isConfidentialOmitted>false</isConfidentialOmitted>
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