OurCrowd, one of the world’s largest crowdfunded-venture investment platform, today announced the launch of its Pandemic Innovation Fund. The Fund plans to raise $100 million for investment in urgent technological solutions for the medical, business, educational and social needs triggered by global pandemics and other health emergencies.
“The rapid spread of the coronavirus has validated our vision of a connected digital world poised to solve any crisis through global communication and rapid response,” said OurCrowd CEO Jon Medved.
“To ensure that we get the world back on track, there is now an urgent need for innovation. Technology can help us overcome many of the problems resulting from the crisis. It’s time for tech to move fast and fix things.”
OurCrowd’s Pandemic Innovation Fund will focus on the following investment sectors:
- Prevention & Containment – Vaccines, Testing, Personal protection, etc.
- Treatment & Healing – Therapeutics, Diagnostics, Remote monitoring, Digital health, etc.
- Continuity & Disruption Mitigation – Remote working, Distance learning, Robotic process automation, Home exercise, Cybersecurity, etc.
The Fund will both invest in new startups and select relevant companies already included in OurCrowd’s existing portfolio.
OurCrowd’s portfolio already has more than 20 companies actively working to mitigate the coronavirus crisis and its effects, some of which will be candidates for follow-on investment from the Pandemic Investment Fund. OurCrowd’s existing investments in technologies on the frontlines of coronavirus response include:
MigVax – Developing the MigVax-101 COVID-19 oral subunit vaccine for humans based on a proven platform developed over 4 years that was shown to be a highly effective oral vaccine against IBV (Infectious Bronchitis Virus) in poultry.
Sight Diagnostics – Compact complete blood count analyzer that provides lab-grade results with 2 drops of finger prick blood sample in under 10 minutes.
SaNOtize – Approved by Health Canada for multi-center Phase II trial of its Nitric Oxide Releasing Solution (NORSTM) for the prevention and early treatment of COVID-19
TytoCare – Remote physical exams and monitoring for primary care, chronic care and COVID-19 patients, protecting medical staff and reducing the burden on health systems
MeMed – Provides diagnostic insights to distinguish between bacterial and viral infections and is working on actionable solutions to help enable early intervention, before the onset of COVID-19 symptoms, and the implementation of measures to identify infection severity and improve patient management.
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Techsee – Remote Visual Assistance powered by Computer Vision AI & AR used by leading brands like Vodafone and Verizon to provide uninterrupted tech support while ensuring the safety of employees and customers under social distancing.
Kryon – Robotic process automation used to transfer and verify millions of coronavirus test results with individual patient health records in a fraction of the normal time
Intuition Robotics – ElliQ AI-powered intelligent digital companion for the elderly, helping them stay sharp, connected and engaged
Zebra Medical Vision – Zebra-Med’s AI automatically detects and quantifies suspected COVID-19 findings on standard chest CTs, both contrast and non-contrast, and is already integrated in Apollo Hospitals Group in India.
The fund is open to both accredited private investors (minimum $50,000) and institutional investors (minimum $1,000,000) and further information about this opportunity is available at www.ourcrowd.com.
Advisors to the Fund, portfolio company experts, and top speakers from around the world will participate in the OurCrowd Pandemic Innovation Conference – an online event on June 22, 2020, broadcast from Jerusalem.
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Vishal Chawla is a senior tech journalist at Analytics India Magazine and writes about AI, data analytics, cybersecurity, blockchain and startup ecosystem. Vishal also hosts AIM's video podcast called Simulated Reality- featuring tech leaders, AI experts, and innovative startups of India. Reach out at firstname.lastname@example.org