Israeli early-stage venture fund Earth & Beyond Ventures has launched with commitments of $125 million to invest in Israeli deep-tech, aerospace, and satellite engineering startups. The fund will be investing between $500,000 and $2 million in seed and pre-seed companies.
Backed by global technology, manufacturing, and space industry conglomerates, Earth & Beyond Ventures is the first fund of its kind in Israel to focus specifically on supporting deep technology innovations with dual purpose space and terrestrial applications, and aims to boost Israel’s emerging commercial space ecosystem. The new fund's backers include materials and manufacturing giant Corning Inc. (GLW), Japanese electronics giant Kyocera Corp (KYOCY.PK), electronic connectivity components manufacturer Samtec, Inc. and Israeli satellite communication services and solutions provider Spacecom (SCC.TA). The fund’s general partners include Daniel Recanati, Doron Zauer, Dr. Israel Biran, and Ofer Asif. The group is also backed by the Israel Innovation Authority.
Earth & Beyond Ventures CEO Baruch Schori said, "Israel's achievements in the development of innovative technologies are world-renowned, but many don’t realize that Israel was one of the first countries to design, build and launch its own satellite, a feat which requires tremendous cross-disciplinary expertise and know-how. Together with our investors and partners in the ecosystem, our job at Earth & Beyond Ventures is to identify and support the deep technologies and ideas that can become powerful applications not just here on earth, but in space as well."
Published by Globes, Israel business news - en.globes.co.il - on February 9, 2023.
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