Siemens venture arm Next47 opens Israel office

Moshe Zilberstein
Moshe Zilberstein

The German industrial manufacturing giant's investment arm has opened offices in Herzliya to scout for Israeli startups.

Next47, the venture arm of German industrial manufacturing giant Siemens, announced the launch of its Israel operations during an official inauguration event at its new offices in Herzliya. The firm also announced that it has appointed Moshe Zilberstein to serve as lead for Israeli investments.

Next47, which has 8 office worldwide, invests in and partners with startups that use deep technologies, such as artificial intelligence, augmented and virtual reality, cybersecurity, autonomous driving, Internet of Things (IoT), robotics, and advanced manufacturing, to solve the most difficult and fundamental industry challenges.

The fund has already been active in the Israeli market, having invested in startups such as Bringg, the logistics management and delivery platform; Bizzabo, the cloud marketing and conference-management platform developer; and Logz.io, the machine data analytics platform.

Next47 Investment Fund partner Matthew Cowann who visited Israel for the launch of the Herzliya office said, "Next47 sees Israel as an important and unique market for investments. Israeli startups have a track-record for solving thorny and complex problems that impact industries and infrastructure; this is Next47’s sweet spot. Today, we’re doubling-down on our commitment to this ecosystem by opening a new office in Israel."

Zilberstein said, "We, at Next47, are active in many markets outside of the U.S., including Europe and Asia, and I am excited about our local announcement today. Activity in Israel will enable us to enhance our cooperation with local entrepreneurs and contribute to the fund's vision to invest in future entrepreneurs."

Zilberstein brings to Next47 years of experience in entrepreneurship and capital markets. Prior to joining Next47, Zilberstein worked with Norwest Venture Partners and managed investments in companies such as CyberX, Cynet, Fireglass, Gong, Velostrata, Vastdata, and Wiliot.

Published by Globes, Israel business news - en.globes.co.il - on January 29, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Moshe Zilberstein
Moshe Zilberstein
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