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The Israel Resilience Fund, established in the midst of the war, has committed more than $13 million and announced that its first investment has been approved.
The $50 million fund was established by the OurCrowd investment platform to develop war-related solutions in areas that have been directly affected by war or include cybersecurity, emergency medical care, recovery, and environmental impact. The aim is to highlight approximately 50 startups that are currently in the market.
Eight startups were selected to receive investment in December, half of which are not currently in OurCrowd’s portfolio.
That includes Verobotics, which has developed a robot that can climb skyscrapers to clean them and check for damage. Edgebees uses motion and satellite imagery to aid emergency response. Kalar, an EV battery thermal management system startup, had to relocate from its headquarters in Sderot, one of the southern Israeli communities affected by the October 7 attack. And Blue Tree, from Kiryat Shmona, a northern town evacuated during the war, is focusing on techniques to reduce sugar in natural drinks.
“We are very pleased to receive this investment, especially since our technology is so important to Israeli Defense Force operations,” said EdgyBees CEO Shay Har-Noy. “Many of our employees serve in the Reserves, so this additional funding is a vote of confidence in our technology, our teams, and our efforts to support the war effort.”
John Medved, Founder and CEO of OurCrowd, said: “Many venture-backed companies in Israel are already struggling due to the global venture downturn, but now they are in Gaza. “Facing even more serious obstacles from the war, we urgently need intensive investment.”
“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.”
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