- Grove Ventures, an early-stage deep tech-focused venture capital firm headquartered in Tel Avivm has announced the final closing of Grove Ventures II with total commitments of $120 million
Grove Ventures — an early-stage deep tech-focused venture capital firm headquartered in Tel Aviv — has announced the final closing of Grove Ventures II (“Grove II”) with total commitments of $120 million. Grove II — with commitments from institutional investors, strategic investors, and globally acclaimed industry leaders — was oversubscribed.
Grove Ventures invests in leading startups developing hard-to-replicate solutions at the intersection of technology, science, and applicable market needs. And Grove Ventures’ investment thesis is based on the premise that the combination of IoT, artificial intelligence, and cloud computing technology advancements creates a new set of investment opportunities in multiple industries soon to undergo revolutionary digitalization processes, such as manufacturing, mobility, and healthcare.
Grove creates value for deep technology-focused entrepreneurs. And its portfolio companies have raised more than $100 million in additional funding from leading investors. Plus Grove facilitates hundreds of meetings annually between its portfolio companies and potential partners, contributing to their business growth through recruitment efforts, strategic consultation, and partnership creation. Grove Ventures has been Israel’s most active VC investor in semiconductors in recent years, is the creator of Israel’s largest Industry 4.0 conference, and the organizer of one of the country’s leading Deep Tech events, consistently using its global network to help grow the local tech ecosystem and connect innovative Israeli companies to the European and US markets.
About a quarter of the world’s top 20 corporations by market value placed significant investments in portfolio companies from Grove I, including Fabless IoT semiconductor company Wiliot, API marketplace company RapidAPI, and autonomous vehicles SWIR sensing solution company TriEye.
And Grove’s portfolio includes a wide range of deep tech startups, six of which are still in stealth mode while others already publicly announced are gaining widespread coverage, such as 3DSignals, which assists manufacturers in digitalizing their machines to become an Industry 4.0 “factory of the future” using a range of performance monitoring sensors.
Grove Managing Partner Dov Moran is a prominent Israeli hi-tech investor, inventor, and entrepreneur — who is best known as the inventor of the USB flash drive. And Moran founded M-Systems (acquired by SanDisk for $US 1.6 billion in 2006) and also served as the chairman of Tower Semiconductors.
And Grove Ventures’ leadership team has a record of identifying, financing, and building exceptional deep tech companies. For example, Grove Ventures Partner Sigalit Klimovsky worked at Hutchison Whampoa in Australia and was among the founding members of multiple highly successful communication companies in Israel.
And Grove Ventures partner Lotan Levkowitz is a global thought leader on Industry 4.0 investments, the founder of the Israeli Industrial IoT forum and previously a manager of Moran’s private investments.
Grove Ventures also announced the appointment of Omri Green as a partner. Green was previously a principal at Grove and was the co-founder of ICS2.
“With Grove II we want to empower brilliant deep tech entrepreneurs with innovative ideas and passion around their product to build great international companies,” explained Moran. “We believe the world is on the brink of a revolution that will digitalize sectors such as manufacturing, mobility, and healthcare. We are looking for sharp entrepreneurs who can solve big problems using great technology to become industry game-changers. We want unique people with a clear vision on how to use these technologies to reshape industries while also having a positive impact on the world.”
