Israeli investment platform our crowd today announced $13 million in capital commitments for $50 million. Israel Resilience Funda fund launched by the organization shortly after the Israel-Hamas war, began supporting startups affected by the war or developing solutions to Israel’s immediate needs.
The fund has already provided funding to eight companies.This includes food tech startups. blue tree and carrais a startup building thermal management solutions for EVs, and both recently had to relocate their facilities.The fund is partnering with aerial imagery specialist Edgybees. Beloboticsis a robotics startup currently focused on cleaning and inspecting the facades of high-rise buildings.
Jeff Kupietzky, Jon Medved, Alon Tal, Maya Zachodin Koren – Israel Resilience Fund team members
OurCrowd plans to raise a total of $50 million for the fund, which charges no management fees or interest. The fund will invest in around 50 startups in total.
“Many Israeli venture-backed companies, already struggling due to the global venture downturn and now facing even more serious obstacles from the Gaza war, urgently need intensive investment. “It’s happening,” he explained. our crowd Founder and CEO John Medved. “The Israel Resilience Fund aims to take advantage of the current undervalued market valuations and generate significant returns for investors, while helping many Israeli companies overcome the crisis and thrive in the long term. Masu.”
Similarly, Resilience Fund managing partner Jeff Kupietzky recently sold his startup Jeeng to OpenWeb. for $100 millionsaid that in addition to financial issues, the fund is also aimed at supporting start-ups currently facing operational problems due to the war. “Startups do not know when international investors will resume investing in Israeli startups as they wait for the conflict to subside. In addition, companies are forced to hire key personnel called into reserve. While facing operational challenges, evacuations and rocket launches have created challenges to day-to-day business operations.While businesses are resilient and continue to operate, many are “We need funding to overcome this and extend the runway and support our ultimate success,” he said.
Source: techcrunch.com
