Israeli global equity crowdfunding platform OurCrowd today announced that its Labs/02 seed stage incubator in Jerusalem will invest in up to 100 early stage startups over the next ten years.
The incubator, which focuses on cutting-edge technologies like AI, deep learning, autonomous transportation and smart cities, plans to make initial investments in Keepers, which provides non-invasive tools to help parents cope with social media addiction and cyberbullying, and C2A Security, a chip level security and safety platform for next generation cars.
Labs/02 is a partnership comprising OurCrowd, Motorola Solutions (NYSE: MSI), Reliance Industries (NSE: Reliance) and Yissum (the Technology Transfer Company of The Hebrew University of Jerusalem.) The incubator will be part of the Israeli technological incubator program of the Israel Innovation Authority (formerly the office of the Chief Scientist.)
Moshe Raines will head all of the incubators activities. His strong entrepreneurial experience includes senior leadership roles at both global Fortune 500 companies and venture capital backed startups.
He said, “LABS/02 is the commando unit of early stage funds. Our work is fast, professional and backed by top tier partners that are focusing on creating added value for the companies. At Labs/02 we believe that it’s all about the people. A winning startup team is comprised of people who have tasted success and are craving more.”
Keepers CEO Hanan Lipskin said, “At Keepers, we are focused on keeping our kids safe online, and the Labs/02 team of professional leaders can help us execute fast in this very timely market.”
C2A Security CEO Michael Dick said, “The tech world has been rocked recently by vulnerabilities at the chip level, and C2A provides a solution to this growing problem for the hundreds of chips in today’s cars. The investment from Labs/02 is helping us leapfrog into the market, which needs our solution now.”
OurCrowd founder and CEO Jon Medved said, “Just when recent data shows a 49% decline in early stage seed investments in Israel for 2017, OurCrowd is proud to be pouring more resources and investment into the critical seed investing arena. My personal roots were always in seed investment, and Moshe and his Labs/02 team are just what the market needs to revitalize the seed scene in Israel.”
Published by Globes [online], Israel business news - www.globes-online.com - on January 30, 2018
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