Fund To Support Israeli Startups In Wartime Raises $13 Million A fund created by Israel’s largest online investment platform to support local startups during the country’s war with Hamas has announced its first close with more than $13 million in capital commitments. The Israel Resilience Fund, unveiled by OurCrowd in early November, has also already approved its first eight investments. These include: BlueTree, a startup that says it can halve the sugar content in orange juice without compromising on taste or nutrition; Edgybees, whose AI mapping software is helping Israeli forces in Gaza; and Verobotics, whose lightweight, autonomous robots are used for building upkeep and maintenance. The objective of the fund is to raise $50 million, which will be invested in at least 50 companies. OurCrowd, which was founded in 2013 by its CEO Jonathan Medved, says it is waiving its management fees and carried interest as part of the effort. The fund is focusing on companies directly impacted by the conflict, which began on October 7 when Hamas terrorists stormed across the Gaza border, murdering 1,200 people and taking hundreds more hostage. Resources will also go to companies developing solutions in critical fields, such as food security, cyber security and emergency medicine. “After pushing off financing rounds due to global venture market conditions, many companies developing unique technologies with strong product-market fit and positive business momentum, now find they have diminishing runways and need additional financing, but they face a challenging fundraising environment,” said veteran businessman Jeff Kupietzky, who is managing the fund’s operation. “Startups do not know when international investors will resume investing in Israeli startups as they wait for the conflict to subside. Additionally, companies face operational challenges with key personnel called up to the military reserves, while evacuations and rocket fire pose a challenge to daily business operations. Companies resiliently continue, yet many need financing to extend runways through the crisis and power their ultimate success,” he said.
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