JERUSALEM (Reuters) – Israeli venture capital fund OurCrowd said on Tuesday its new artificial intelligence (AI) fund was collaborating with Nvidia to fast track some of its AI startups into the Nvidia Inception programme.
Inception helps startups evolve faster through cutting-edge technology, connecting with venture capitalists, and having access to the latest technical resources and tools from Nvidia.
OurCrowd’s AI fund was launched in September 2023 and aims to raise $50 million and invest in 20 to 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.
“AI is poised to affect every industry sector, with an impact comparable to the introduction of cloud computing, social media, the smartphone, the PC, and, before that, electricity,” said Jon Medved, OurCrowd’s chief executive.
Arik Kol, who heads Nvidia Inception Israel, said its collaboration with the OurCrowd AI Fund will “develop the next generation of AI startups, helping to shape the way that AI will benefit multiple aspects of our lives.”
OurCrowd, one of Israel’s largest tech investors, over the past decade has invested $386 million in 81 AI companies, with eight being acquired or had an initial public offering.
(Reporting by Steven Scheer)
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