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Home BUSINESS NEWS FROM AROUND THE WORLD

Canada’s Awz raises $75m to invest in Israeli security tech

by 198 China News
August 13, 2021
in BUSINESS NEWS FROM AROUND THE WORLD
2 min read
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Canadian enterprise capital agency Awz has launched Awz X-Seed in partnership with MAFAT – the Israeli Ministry of Protection’s Directorate of Protection Analysis and Improvement (DDR&D) and different Israeli safety companies to spend money on “pre-seed” and “inception” stage corporations creating progressive safety applied sciences with vital industrial functions within the civilian sector.

Awz X-Seed has raised greater than US $75 million, nicely over its goal of $50 million, for the investments. Ten funding alternatives in cloud safety, quantum, aerospace, deep tech, robotics, synthetic intelligence, and cyber safety have already been recognized. Each 18 months, Awz Ventures will elevate an additional $75 million to spend money on its subsequent cohort of 15 corporations, which can be based mostly within the Tel Aviv accelerator hub.

Awz is headed by founder and managing accomplice Yaron Ashkenazi whereas former Canadian Prime Minister Stephen J. Harper serves as president of the Advisory Committee.

Every portfolio firm will obtain a non-dilutive enterprise package deal together with workplace house within the Awz X-Seed hub and superior advertising, enterprise improvement, and know-how mentorship companies offered by the hub’s in-house skilled crew. Portfolio corporations will additional profit from Awz Ventures’ enterprise improvement places of work in Canada, the US, and UAE that can assist the businesses in increasing their international shopper base. This technique will even enable Awz X-Seed to assist its portfolio corporations in accelerating their commercialization and know-how improvement to achieve sequence A at the next valuation.

Awz X-Seed will initially make investments a mean of $3 million – $5 million in every portfolio firm. The perfect performing corporations can be thought-about for follow-on funding rounds by Awz Ventures’ growth-stage funds, along with third-party buyers.

Ashkenazi stated, “Awz Ventures’ distinctive strategic partnership with MAFAT and Israel’s different safety companies will enable our hub to have essentially the most superior deal circulate that stems from the actual acknowledged wants throughout the safety business that even have a number of functions throughout the industrial sector. We’ll handle these wants and gaps within the market each by investing in present corporations and by creating corporations collectively from scratch.”

Awz X-Seed can be led by Ashkenazi, and Daniel Mak, a Canadian high-tech investor and Awz Ventures Normal Companion, alongside two Israel-based Normal Companions: Roni Alsheich, former Deputy Director of the Israel Safety Company (Shin Wager), and Sharon Gal, former Head of Expertise Innovation on the Israel Prime Minister’s Workplace.

Awz Ventures was based in Canada in 2016 by Ashkenazi, a former officer in Israel’s Shin Wager, and Chairman Edward Sonshine, Founder and Chairman of one in every of Canada’s largest actual property funding trusts, RioCan REIT.




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MAFAT is the Israel Ministry of Protection DDR&D, liable for supporting the whole Israel protection infrastructure in scientific and technological tasks and finds options to Israel’s most urgent safety challenges.

Revealed by Globes, Israel enterprise information – en.globes.co.il – on August 12, 2021

© Copyright of Globes Writer Itonut (1983) Ltd. 2021


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Tags: 75mAwzCanadasinvestIsraeliraisesSecuritytech
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