Israeli investment platform Our crowd announced today that it now has $13 million in capital commitments toward its $50 million Israel Resilience FundA fund the organization launched shortly after the war between Israel and Hamas began supporting startups that were affected by the war or were developing solutions for Israel's immediate needs.
The fund has already provided financing to eight companies. Among them are companies such as food technology startups. tech.com/”>blue tree and Carrar, a startup that is building a thermal management solution for electric vehicles, which recently had to relocate their facilities. The fund also invested in aerial imaging specialist Edgybees and Veroboticaa robotics startup that currently focuses on cleaning and inspecting high-rise building facades.
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 earns interest. In total, the fund will invest in about 50 startups.
“Many venture capital-backed companies in Israel are already struggling due to the global risk slowdown and now face even more serious obstacles due to the war in Gaza, requiring immediate and focused investment,” he explained. Our crowd Founder and CEO Jon Medved. “The Israel Resilience Fund will seek to generate outsized returns for investors by taking advantage of discounted valuations in the current market, while supporting numerous Israeli companies to survive the crisis and prosper in the long term.”
Similarly, Resilience Fund operating partner Jeff Kupietzky, who recently sold his startup Jeeng to OpenWeb. for $100 million, noted that in addition to financial issues, the fund also aims to help startups that are now facing operational challenges due to the war. “Startups do not know when international investors will resume their investments in Israeli companies as they wait for the conflict to subside. Additionally, companies face operational challenges with key personnel called up to military reserves, while evacuations and rocket launches pose a challenge to daily business operations. “Businesses remain resilient, but many need financing to expand their runways during the crisis and drive their ultimate success,” he stated.
