Israel's OurCrowd to Raise $100 Million for Coronavirus Technologies

The investment platform's pandemic innovation fund will focus on investing in areas such as vaccines and PPE, as well as related startups

Reuters
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Coronavirus tests are conducted at a testing station in Jerusalem, June 2020
Coronavirus tests are conducted at a testing station in Jerusalem, June 2020Credit: Ohad Zwigenberg
Reuters

Israeli venture investing platform OurCrowd said on Tuesday it plans to raise $100 million for investment in technology in medical, education and other segments to find solutions for COVID-19 and future pandemics.

LISTEN: High priests, holy smoke and cannabis in the TempleCredit: Haaretz

Its pandemic innovation fund will focus on investing in areas such as vaccines, personal protection, therapeutics, diagnostics, remote monitoring, digital health, remote working, distance learning, robotic process animation, home exercise, and cybersecurity.

The fund will invest in new startups and relevant companies already included in OurCrowd’s portfolio, which has more than 20 companies actively working to mitigate the coronavirus crisis. Some of these companies, it said, will be candidates for follow-on investment from the PIF.

“To ensure that we get the world back on track, there is now an urgent need for innovation,” said OurCrowd CEO Jon Medved. “Technology can help us overcome many of the problems resulting from the crisis.”

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