Israeli crowdfunded-venture investment platform OurCrowd this week announced the launch of its Pandemic Innovation Fund. The fund plans to raise $100 million for investment in urgent technological solutions for the medical, business, educational and social needs triggered by global pandemics and other health emergencies.
OurCrowd CEO Jon Medved said: “The rapid spread of the coronavirus has validated our vision of a connected digital world poised to solve any crisis through global communication and rapid response”.
OurCrowd’s Pandemic Innovation Fund will focus on: Prevention & Containment – Vaccines, Testing, Personal protection; Treatment & Healing – Therapeutics, Diagnostics, Remote monitoring, Digital health; and Continuity & Disruption Mitigation – Remote working, Distance learning, Robotic process automation, Home exercise, Cybersecurity.
The fund will both invest in new startups and select relevant companies already included in OurCrowd’s existing portfolio.
OurCrowd’s portfolio already has more than 20 companies actively working to mitigate the coronavirus crisis and its effects.
The new fund’s first investments include MigVax, an Israeli contender to produce oral coronavirus vaccine, and Sight Diagnostics, rapid, accurate and safe blood test technology in use at hospitals with Covid-19 patients.
