$10M for wastewater intelligence + 62% cut in antibiotic overuse
A weekly selection of news and investment opportunities from OurCrowd, the global venture investing platform
Startup of the Week
CropX: Global AgTech leader acquires sixth company, projects break-even in 2025
One of the world’s most urgent problems is how to feed a rapidly growing global population in a changing climate while reducing harm to the environment. OurCrowd portfolio company CropX Technologies is an agriculture analytics company whose SaaS platform uses AI to analyze data from proprietary in-ground sensors, combined with precise weather data, satellite imaging, topography, and other data sources. The intelligence provided by CropX increases farmers’ yields by up to 20% with up to 50% water savings, 20% fertilizer and chemicals savings, and 13% reduction in greenhouse gas emissions. The company services 3,000+ paying customers in 70+ countries with over 15,000 installations. CropX recently completed its sixth acquisition, expanding its technology, customer base, and revenue around the world. The company’s revenue grew ~50% in 2023 and it projects a 44% increase in 2024, on track to break-even in 2025. CropX’s current funding round is ~70% committed and is now open to OurCrowd investors.
Kando raises $10M to enhance wastewater data with GenAI
Kando , OurCrowd’s wastewater intelligence company dedicated to improving global wastewater data and quality, closed a $10M investment round led by DC Thomson, LIP, Ram-On Investments, Bridges Israel, ICI Fund, Aliaxis, and OurCrowd. This round brings the company’s total funding to $30M. Wastewater quality is a huge global challenge that impacts water availability, public health, and the environment. Kando optimizes wastewater quality management using proprietary machine learning models trained on unique in-house IoT data. The investment will drive Kando's extensive global expansion, focusing on the US and Europe. “We are looking forward to helping Kando improve water quality in the ocean, rivers, and streams in the UK,” says John S. Thomson, Investment Director at DC Thomson. “Kando's solution, based on GenAI, aligns perfectly with our mission to invest in technologies that support a sustainable future.”
MeMed cuts antibiotic overuse by 62% in US trial
The first multi-center randomized controlled US clinical trial confirms the impact of MeMed BV in reducing the unnecessary prescribing of antibiotics. The JUNO study showed a 62% reduction in unnecessary antibiotic prescription rates compared to the control group, “the first time that the results of a randomized control trial on an advanced host response technology have been provided,” MeMed CEO Eran Eden tells Jonathan D. Grinstein at Inside Precision Medicine . MeMed, an OurCrowd portfolio company, uses machine learning to accurately distinguish between bacterial and viral infections in just 15 minutes from a small blood sample. The technology was granted FDA clearance in September 2021. “These preliminary results underscore the potential of MeMed BV to significantly influence antibiotic stewardship, reducing unwarranted antibiotic prescriptions while enhancing patient outcomes,” says lead investigator Prof. Adam Singer, MD, of Stony Brook University, New York.
One year on: Tech investment in Israel up despite war with Hamas after October 7
“No one expected the war would last this long,” OurCrowd CEO Jon Medved told the BBC as Israel marked one year since the brutal Hamas attacks on October 7, 2023, outlining the economic impact on Israel of the year-long conflict. “The tech sector, which represents over 20% of Israel’s GDP and 50% of its exports, seems to be weathering the storm. In the first nine months of the year, investments in Israel are actually up over 32% relative to last year. Go figure how a country which is fighting on seven fronts is actually maintaining its high-tech economy. It’s remarkable.” OurCrowd set up the Resilience Fund which “made it easier to back Israeli companies,” Medved explained.
AI Fund leans into “new rage” among investors
OurCrowd’s AI Fund was created after it became clear that “AI is the new rage” among investors, Cali Chill, OurCrowd Chief Investment Officer, tells CTech’s James Spiro . The fund enables investors to participate “across the different layers of AI companies” with a minimum of $50,000, says Chill. The OurCrowd AI Fund is currently open for investment via the OurCrowd platform .?
Watch On-Demand: Investing in OurCrowd’s Incubator Portfolio
OurCrowd is a strong supporter of incubators and the incubator model. As Israel’s leading incubator investor, OurCrowd co-owns five in Israel and one in New Zealand, with a combined 70 portfolio companies operating in an array of sectors. The incubator model holds many advantages for investors, including non-dilutive government funding for companies accepted into the incubation program. Last week, we hosted the CEOs of two OurCrowd incubators, Noga Sela Shalev of Fresh Start and Zohar Gendler of NGT HealthCare II, to discuss the crucial role their hubs play for their startups and investors alike. For the first time, OurCrowd is offering our investors an opportunity to claim a stake in its existing and future incubator portfolio, all without management fees. Click below to watch the event on demand.
NeuReality appoints industry veteran Hiren Majmudar as President
NeuReality , OurCrowd’s disruptive innovator in AI inference compute and network infrastructure, appointed Hiren Majmudar as President . Majmudar joins the team to drive NeuReality's next growth phase, focusing on accelerating the adoption of its NR1 AI Inference Solution. Majmudar previously held leadership positions at GlobalFoundries, and was VP and Managing Director at Intel Capital where he played a key role in shaping investment strategies for AI, compute, and networking silicon while overseeing significant acquisitions and partnerships. “Beyond advancing energy efficiency and performance thresholds for GPUs and AI accelerators, we’re making AI accessible and sustainable across every industry,” Majmudar says. Sign an NDA to learn more about NeuReality's funding round, currently open to OurCrowd investors.
领英推荐
Plenty opens world’s first large-scale indoor vertical farm for berries
Plenty Unlimited , OurCrowd’s vertical farming pioneer, opened the world’s first vertical indoor farm to grow berries at scale, in Richmond, VA. Plenty farms are the most technologically advanced farms in the world – making it possible to grow produce year-round, almost anywhere in the world. The Plenty Richmond Farm is designed to produce more than 4M pounds of strawberries annually in less than 40K square feet by growing vertically on 30-foot-tall towers. The farm will exclusively grow Driscoll’s strawberries, with the first crop available in early 2025.?
Ravin AI to demo new AI-powered vehicle repair assessment at ITC Vegas 2024
Ravin AI , OurCrowd’s leader in AI-powered vehicle assessment software, will unveil RepairIQ , its new repair assessment technology, at ITC Vegas 2024. Attendees will have the opportunity to experience Ravin AI’s cutting-edge technology through interactive demos designed to showcase how insurers can efficiently triage motor claims, accurately predict total losses, and effectively manage repair costs. Built on 2B vehicle images and repair insights, the AI-driven vehicle assessment software is powered by DeepDetect, a proprietary damage detection technology patented in the US, EU, and other jurisdictions and recognized by Time magazine as a breakthrough AI technology.?
IQM to deliver Czech Republic’s first quantum computer
IQM Quantum Computers , OurCrowd’s global leader in designing, building, and selling superconducting quantum computers, won a contract to deliver the Czech Republic’s first quantum computer which will be installed at the IT4Innovations National Supercomputing Centre in Ostrava. The contract is part of the European High Performance Computing Joint Undertaking (EuroHPC JU) program. This will be the first quantum computer in an HPC center that will run on IQM′s unique Star Architecture where 24 qubits are connected to a central resonator.?
The Banker: ThetaRay helped Santander UK expose human trafficking network
AI and machine learning can enhance the ability of financial institutions to detect and combat human trafficking. Anita Hawser, Europe Editor of The Banker, published by the Financial Times, speaks to Stephen Jennings, head of transaction monitoring at Santander UK, and Peter Reynolds, CEO of OurCrowd portfolio company ThetaRay , about how Santander UK uncovered a human trafficking network using ThetaRay’s AI financial security platform.
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Startup Beat?is a weekly selection of news and investment opportunities from?OurCrowd , the global venture investing platform.
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OurCrowd is a global venture and private market alternatives investing platform. To date we have more than $2.3 billion in commitments, 235,000 registered investors, 460 portfolio companies, 57 venture funds and 65 exits.
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