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Equity crowdfunding platform OurCrowd has raised $1 billion in commitments

Equity crowdfunding platform OurCrowd has raised $1 billion in commitments
OurCrowd founder and CEO, Jon Medved [Photo: courtesy of OurCrowd]

OurCrowd has reached a new milestone: The global equity crowdfunding platform announced it reached $1 billion in commitments in six years. During the OurCrowd Global Investor Summit in Jerusalem on Thursday, founder and CEO Jon Medved said the company now counts 170 startups, 18 funds, and 29 exits.

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While many of its startups are based in Israel, OurCrowd’s network of 30,000 registered investors hail from over 150 countries (although primary investors are based in the United States). Members average seven investments, with a portfolio size of over $350,000.

“Our portfolio is, by design, quite diverse,” Medved said during a press conference. “We have companies that run the gamut from drones to agtech, from cybersecurity to food technology, to consumer software and medical products, digital health, and big cloud data.”

Notable OurCrowd exits in 2018 include dual camera technology producer Corephotonics (by Samsung), electric scooter startup Jump Bikes (by Uber), and computer vision firm Invertex acquisition (by Nike).

The conference also saw the launch of two new funds: a $30 million Impact Fund for venture-backed businesses centered on the UN Sustainable Development Goals and a $50 million Medtech Fund for disruptive medical technologies and healthcare solutions. The latter will target the $433. 7 billion medtech market, which is expected to grow to $594.5 billion by 2024.

OurCrowd, which was named one of Fast Comapny’s Most Innovative Companies in 2018, already heavily invests in the medical industry. Since its founding in 2013, OurCrowd financed $78 million in over 20 medical technologies. It represents 24 startups in the field, including UPnRIDE, an electric wheelchair that enables individuals to stand; Zebra Medical Vision, AI-powered medical imaging for radiologists; and Memic’s robotics to assist surgeons.

OurCrowd recently invested in Nanomedic, the company behind SpinCare, a gun-like device that sprays a nanofiber “skin” on severe burns and wounds. The simple procedure–which eliminates the need for painful dressing changes–is said to speed up the healing process and dramatically reduce risk of infection. It’s already being used in select Israeli and European hospitals.

“[Nanomedic] is a transformational company,” Medved tells Fast Company, noting its widespread applications. “It’s a complete game-changer.”

Disclosure: This writer’s travel costs to the OneCrowd summit were reimbursed by a PR firm.

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