10D Launches $110M Venture Fund Focused On Israeli Seed, Series A Startups

Israeli venture capital firm 10D, which previously operated under the temporary name, Ofek Ventures, announced a $110 million venture fund targeting early-stage startups.

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The firm was started by Yahal Zilka, Rotem Eldar and Itay Rand, who were separately invested in companies including Waze and WalkMe.

10D is providing seed and Series A investments in startups. It typically makes $1 million to $5 million in initial investments, and follow-on investments of up to $10 million, Eldar told Crunchbase News. With the new fund, he expects to be able to invest in 15 Israeli companies.

“Early-stage investments are mostly about people, and we like to work closely with entrepreneurs, provide mentoring and our experience, both on the business side and where we think there is a lot of value in this kind of interaction,” he added.

It has already invested in six companies and is working on its seventh deal. Its portfolio companies include:

• Seebo – developing artificial intelligence technologies for industrial plants
• StuffThatWorks – creating a new health care database based on crowdsourcing
• DayTwo – providing customized nutritional guidelines based on the gut microbiome

The firm is looking at industries, such as digital health, insurance and fintech, as well as computer vision and artificial intelligence as it relates to manufacturing. The firm’s partners say they are looking for industries that are undergoing technology disruption, where there are no incumbents, and where there is opportunity for good ideas to come out of Israel.

“One of our challenges is to identify what are the next big transformations in three to five years,” Zilka said in an interview. “Within digital health, COVID-19 accelerated several trends, including the importance of contactless and remote monitoring and treatments.”

Feature photo of the 10D team, from left, Itay Rand, Yahal Zilka and Rotem Eldar. Photo courtesy of 10D.
Blogroll illustration: Li-Anne Dias