EU Fund Joins $20 Million Investment In Israeli AI Startup 

The European Innovation Council (EIC) has joined a $20 million investment in Israeli AI startup NeuReality. The EIC is the European Union institution created to support disruptive technologies.  

The investors also include OurCrowd, Israel’s largest online investment platform; Tel Aviv-based XT Hi-Tech; and Cleveland Avenue, which is headquartered in Chicago. 

The Caesarea startup plans to use the investment to accelerate the introduction of its new solution, which helps companies use generative AI and large language models efficiently.   

NeuReality also received what it says was a “substantial” grant from the EIC last year, which was intended to support the company’s research and development.  

“We recognize the increasing importance of the European Union’s leadership in AI and blazing a different path of high efficiency versus high spending,” said Svetoslava Georgieva, Chair of the EIC Fund Board. 

“NeuReality’s vision and disruptive technology align with our commitment to fortifying the region’s deep tech and AI investments for a sustainable, AI-powered future,” she said. 

“We appreciate this tremendous vote of confidence from the EU and recognize that the backing of influential investors and the European Union will drive us forward as we pioneer next-gen semiconductor advancements in AI Inference,” said NeuReality’s CEO Moshe Tanach. 

“It’s a significant step towards a greener, more democratized AI future.”