June 2, 2020 / 12:01 PM / 2 months ago

Israel's OurCrowd to raise $100 mln for coronavirus technologies

JERUSALEM, June 2 (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.

Its pandemic innovation fund (PIF) 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.” (Reporting by Steven Scheer; Editing by Tova Cohen)

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