Technology
OurCrowd is announcing a Pandemic Innovation Fund of $100 million
The Pandemic Innovation Fund has been launched by ourCrowd, Jerusalem-based investment platform. The plan is to raise $100 million in investment in "urgent technical solutions" for the medical, business, educational , and social needs arising from global pandemics and other global emergencies.
"The rapid expansion of the virus confirmed our vision of a connected digital world that is capable of resolving any crisis by global communication and rapid responses," said Jon Medved, CEO of OurCrowd. "The time has come for the technology to move quickly and fix things."
The fund will focus on three areas, covering different sectors; prevention and containment, recovery and healing (digital therapy, diagnostics, remote surveillance, etc.), and on mitigation of continuity and disturbances (online work, distance learning, automation of robot systems, home exercise, cybersecurity etc.).
Investments will be geared into new start-ups, and follows rounds from the current OurCrowd portfolio firms, which are already working to alleviate the impact of the coronavirus epidemic, such as TytoCare.
OurCrowd was founded in 2013 and has built a network of 40,000 accredited and institutional investors from more than 183 countries, families and venturing venture partners who are willing to co-invest at the same time.
The Company has to date raised dedicated funding of $1.4 billion and invested in 200 portfolio and 20 venture funds.
