IN Venture Raises $150M For Deep-Tech Startups in Israel

Israel-based venture capitalist IN Venture says it has raised $150 million for a second fund to invest in early-stage deep-tech startups.

Two years ago it announced its first fund, a $100 million investment in seven Israeli startups, all specializing in deep-tech – high-tech innovation in engineering or scientific advances, as opposed to “shallow tech”.

All seven – including Classiq Technologies (a quantum computing company), H2Pro (a hydrogen energy company), Ottopia (cyber-secure teleoperation software) and BRIA (image and video platform) – went on to receive significant further investments.

Deep-tech cyber company GK8, one of the recipients, was later acquired by Israel-American crypto company Celsius for $115 million.

IN Venture is the Israel-focused venture capital arm of Sumitomo Corporation, one of Japan’s biggest general trading companies, with interests in steel, air travel, transport, energy, telecommunication, minerals, and chemicals.  It invests in early-stage technology startups.

“We are proud to launch the second fund in a challenging time for the Israeli high-tech world,” said IN Venture Co-founder Eyal Rosner.

“The decrease in investment volumes is already showing its signs and there is a significant decrease in investment rounds in startups in the early stages.

He and fellow Co-founder Eitan Naor say they will be investing the $150 million in early-stage Israeli startups, primarily in the deep-tech sector, from Seed to Series A.

“At this time, we are leading investments in the fields of ESG (Environmental, Social, and Governance) and digital transformation, with the belief that Israel will have a significant impact on the world tomorrow,” said Rosner.

“We are proud to take a significant part in strengthening the Israeli ecosystem and provide Israeli entrepreneurs with a solid foundation for building exceptional companies.”