JERUSALEM (Reuters) – Israeli venture capital fund OurCrowd said on Tuesday its new artificial intelligence (AI) fund will collaborate with Nvidia to quickly bring some of its AI startups into the Nvidia Inception program.
Inception helps startups evolve faster through cutting-edge technology, connections to venture capitalists, and access to Nvidia's latest technology resources and tools.
OurCrowd's AI Fund was launched in September 2023 and aims to raise $50 million to invest in 20-25 startups. It has already invested in three companies, including One Zero Digital Bank, Israel's first digital bank, and D-ID, which uses AI to convert images into videos.
John Medved, CEO of OurCrowd, said: “AI is poised to impact every industry sector, including cloud computing, social media, smartphones, PCs and, before that, electricity. It is comparable to the introduction of
Arik Kol, Head of Nvidia Inception Israel, said that the collaboration with OurCrowd AI Fund will “develop the next generation of AI startups and help shape the way AI benefits many aspects of our lives.” ” he said.
OurCrowd, one of Israel's largest technology investors, has invested $386 million in 81 AI companies over the past decade, eight of which were acquired or went public.
(Reporting by Stephen Scheer)