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Home BUSINESS NEWS FROM AROUND THE WORLD

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

by Gias
August 12, 2021
2 min read
0
Canada’s Awz raises $75m to invest in Israeli security tech

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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 Growth (DDR&D) and different Israeli safety businesses to spend money on “pre-seed” and “inception” stage corporations growing progressive safety applied sciences with important business 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 extra $75 million to spend money on its subsequent cohort of 15 corporations, which might be primarily based 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 and marketing, enterprise growth, and know-how mentorship providers supplied by the hub’s in-house skilled staff. Portfolio corporations will additional profit from Awz Ventures’ enterprise growth workplaces in Canada, the US, and UAE that may help the businesses in increasing their international shopper base. This technique will even permit Awz X-Seed to help its portfolio corporations in accelerating their commercialization and know-how growth 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 very best performing corporations might 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 businesses will permit our hub to have probably the most superior deal stream that stems from the true acknowledged wants inside the safety trade that even have a number of functions inside the business sector. We are going to tackle these wants and gaps within the market each by investing in current corporations and by creating corporations collectively from scratch.”

Awz X-Seed might be led by Ashkenazi, and Daniel Mak, a Canadian high-tech investor and Awz Ventures Normal Associate, alongside two Israel-based Normal Companions: Roni Alsheich, former Deputy Director of the Israel Safety Company (Shin Guess), 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 Guess, and Chairman Edward Sonshine, Founder and Chairman of certainly one of Canada’s largest actual property funding trusts, RioCan REIT.




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

Printed 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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