Israeli website creation company Wix.com Ltd. (Nasdaq: WIX) has announced the official launch of its own venture capital arm Wix Capital. Over the past year, Wix Capital has already invested $5.6 million in startups in software and technology companies that are at the intersection of online design and development, commerce and business management and AI and automation solutions.
Wix Capital has already invested in seed and early stage investment rounds worldwide including in: Spike, which has created a communication and workflow tool; Oriente, a digital fintech company which provides Wix additional knowledge on financial services in emerging Asian markets; Modalyst, a leading dropshipping platform; and RestAR, a 3D capturing and AI product visualization tool, to gain more knowledge of ways that merchants and advertisers can increase conversion online.
Wix CFO Lior Shemesh, who is in charge of Wix Capital, said, "Given Wix’s success, the Wix team understands building a world class team while keeping a strong start-up culture. Launching Wix Capital will help us stay on top of emerging trends in our fields and be a targeted effort of allocating strategic support to companies that are looking at us as an example of a strong growth company."
Published by Globes, Israel business news - en.globes.co.il - on September 17, 2020
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