'Agrinnovation'
Agritech Investment Fund launched in Israel
Agrinnovation also announced the closing of the first round of financing, of U.S. $4 million. The round of investment was led by the Victor Smorgon Group from Australia. Other investors include Yissum and the Provident Fund of the Employees of the Hebrew University of Jerusalem. In the upcoming days, a group of Chinese-Israeli investors will also join the fund, which is expected to raise a total of up to U.S. $6.0 million. The funds raised will be used to advance agritech technologies and to the establishment of new agricultural start-ups.
Agrinnovation, includes over 100 researchers working on inventions in diverse fields such as agriculture, food, nutrition, veterinary medicine and clean-tech. Each year, the fund will invest in approximately five different outstanding early-stage projects, at times with a strategic partner, with the objective of bringing them to a successful proof-of-concept. The projects will then be the bases for the foundation of start-up companies for the further development and commercialization of cutting-edge products.
Please visit www.yissum.co.il for more information.