Home Finance Equity Crowdfunding Platform OurCrowd Raises $100 Million for AI Fund

Equity Crowdfunding Platform OurCrowd Raises $100 Million for AI Fund

OurCrowd is an equity crowdfunding platform based in Jerusalem. Founded back in 2013 by Jonathan Medved, the company focuses on helping artificial intelligence (AI) startups take off by way of investment.

“Cognitive AI is unstoppable and kiley to create the biggest disruption, as well as the largest transfer of wealth during this period of transformation,” said co-leader of the fund and one of the partners at OurCrowd, Avi Reichental. “We have come to understand, working primarily with early-stage Israeli companies, the power of the convergence of AI with ubiquitous connectivity, with infinite computing power in the cloud, with censoring IOT, with 3-D printing and robotics.”

Both AI and robotics have changed the way many manufacturers operate these days. And, the use of AI in autonomous driving is also going to change the way things are as we know them. While some of these disruptions may be unsettling at first, when looking at the bigger picture, they all make sense. “We think that this kind of disruption, on the other side, will create new jobs, new business models, and that there are ways to harvest the upside of this disruption, which is why we formed Cognitiv ventures,” says Reichental.

Cognitiv is the name of the twelfth OurCrowd fund on the platform and was announced quite recently. It’s an AI-related fund that will give investors access to almost 20 different, mainly Israeli, AI firms. “The fact that outside of Silicon Valley, Israel represents the highest density of innovative and successful early-stage startups,” said Reichental. “And it’s magic of startup nation in an area that we understand fairly well, which is cognitive AI, and try to find the company that could be tomorrow’s category-maker.”

So far to date, OurCrowd has raised more than $500 million for more than 130 portfolio companies and funds. That figure is the result of more than 20,000 investors from 112 countries getting involved in the development and acceleration of AI.

The AI fund is a part of OurCrowd First which, according to IVC Research, has been the most active seed fund in Israel over the past two years. For those interested in becoming an investor at OurCrowd there is a minimum investment required of $50,000. While that may seem like a hefty amount, it’s much lower in comparison to becoming a partner through traditional means.

Source Jpost

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KC Cheung
KC Cheung
KC Cheung has over 18 years experience in the technology industry including media, payments, and software and has a keen interest in artificial intelligence, machine learning, deep learning, neural networks and its applications in business. Over the years he has worked with some of the leading technology companies, building and growing dynamic teams in a fast moving international environment.
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