OurCrowd, a leading global equity crowdfunding platform, announced on Wednesday its Labs/02 seed stage incubator will invest in up to 10 early-stage companies over the next ten years.
According to OurCrowd, the incubator, which is a partnership amount the crowdfunding platform, Motorola Solutions (NYSE: MSI), Reliance Industries (NSE: Reliance) and Yissum (the Technology Transfer Company of The Hebrew University of Jerusalem.), focuses on cutting-edge frontier technologies like AI, deep learning, autonomous transportation and smart cities. It plans to make initial investments in Keepers, which provides non-invasive tools to help parents cope with social media addiction and cyberbullying, and C2A Security, a revolutionary chip-level security and safety platform for the next generation of automobiles.
OurCrowd also reported that the incubator will be part of the world-famous Israeli incubator program administered by the Israel Innovation Authority (formerly the office of the Chief Scientist.) Moshe Raines will head all of the incubators activities. His strong entrepreneurial experience includes senior leadership roles at both global Fortune 500 companies and venture capital-backed startups. Raines stated:
“LABS/02 is the commando unit of early stage funds. Our work is fast, professional and backed by top tier partners that are focusing on creating added value for the companies. At Labs/02 we believe that it’s all about the people. A winning startup team is comprised of people who have tasted success and are craving more.”
Keepers CEO, Hanan Lipskin, revealed:
“At Keepers, we are focused on keeping our kids safe online, andt he Labs/02 team of professional leaders can help us execute fast in this very timely market.”
“The tech world has been rocked recently by vulnerabilities at the chip level, and C2A provides a solution to this growing problem for the hundreds of chips in today’s cars. The investment from Labs/02 is helping us leapfrog into the market, which needs our solution now.”
OurCrowd founder and CEO, Jon Medved, added:
“Just when recent data shows a 49% decline in early-stage seed investments in Israel for 2017, OurCrowd is proud to be pouring more resources and investment into the critical seed investing arena. My personal roots were always in seed investment, and Moshe and his Labs/02 team are just what the market needs to revitalize the seed scene in Israel.”