Crowdfunding platform OurCrowd has launched Cognitiv, which is a $100m investment vehicle.
The new fund will look to back early-stage companies that are using AI, deep-learning, IoT, robotics and digital manufacturing. Cognitiv is the 12th fund launched on the OurCrowd platform, and will enable investors to back around 20 companies, with initial investments being made into EquityX, KolGene and FreshKeep.
OurCrowd’s first investment vehicle raised $12m in 2016.
Cognitiv will be led by three entrepreneurs, 3D Systems former president and CEO Avi Reichental, and OurCrowd’s Eduardo Shoval and Yori Nelken.
Israel-based OurCrowd is a crowdfunding platform for accredited investors and has raised more than $500m for a portfolio of 130 companies and funds.
Cognitiv general partner Avi Reichental said, “AI powered transformation is poised to disrupt and automate every sector in business – from healthcare and financial services to agriculture and manufacturing and could create the largest transfer of wealth in recorded history.
“Having built successful businesses ourselves, we understand that what looked impossible just yesterday, is fast becoming tomorrow’s reality. That is why we are seeding and scaling the very businesses that we believe are harnessing the power of cognitive technology to become tomorrow’s category leaders.â€
Last year, OurCrowd expanded its Iberian operations by opening an office in Madrid, with this helping the company expand its footprint to seven countries. The new office is also set to be a gateway in to Latin America.
The crowdfunding company also raised some capital last year, with it pulling in up to $3.6m from 61 investors. Total capital raised by the company has reached $116.1m, with the company securing a $72m Series C in 2016.
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