Fusion LA is a venture capital firm and an accelerator for Israeli startups in the United States. It was founded in 2017 and is headquartered in Santa Monica, California, United States.[1][2]
 | |
| Company type | LLC |
|---|---|
| Industry | Venture capital |
| Founded | 2017 |
| Headquarters | |
Key people | Guy Katsovich, Yair Vardi |
| Website | www |
History edit
Guy Katsovich and Yair Vardi co-founded Fusion LA in 2017 as an accelerator program that works with Israeli startups attempting to find a foothold in the United States.[3] The founders connected during their military service as officers in Unit 8200, Israel’s equivalent of the American National Security Agency (NSA). Initially, the accelerator invested 20,000 USD in over 30 early-stage startups that participated in the program between 2017-2019.[4][5] In early 2020, they partnered with GoAhead Ventures, a venture capital firm from California, and increased their investment fund to 110,000 USD per early-stage startup. Presently, it is associated with more than 50 early-stage startups across various industrial domains.[6][7] In December 2020, Fusion LA launched the UAE-IL Tech Zone, a community initiative to advance cooperation of business and technology between the United Arab Emirates and Israel, post the Abraham Accords.[8][9][10][11]
Fusion LA is the first accelerator for Israeli startups in Los Angeles, United States. It screens and selects a portfolio of companies seeking to work with American partners and clients for its mentorship driven program. The accelerator facilitates communication and networking between venture capitalists in the Silicon Valley and the Israeli founders.[7][12][13]
Program edit
Between six and nine startups are selected for the nine-week program, each receiving a $110,000 cash investment, free office space in Santa Monica, and access to a network of investors and executives in Silicon Valley and Los Angeles.[14] In 2020, due to the COVID-19 crisis and transition to remote work, Fusion LA announced a 3-week screening process from first meeting to an investment decision. The accelerator produced virtual and in-person sessions for the founders with industry professionals, mentors, advisors and investors.[14]
It invested in early-stage startups belonging to various industries such as video games, enterprise software, digital health, environmental technology, augmented reality, virtual reality, artificial intelligence, smart cities, and fintech.[2]
As of 2020, Fusion LA has accelerated 49 startups that have raised more than $100 million in funding. Hoopo, GiantLeap, UniperCare,[15] DigitalOwl,[16] Spetz,[17] Plantt,[18] Magical[19] and Agora[20] are some of its notable alumni.[21]
References edit
- ^ "Fusion Labs L.A's Spring Cohort of Israeli Startups". Jewish Journal. 2019-04-17. Retrieved 2021-03-13.
- ^ a b "Funding has never been easier: Fusion LA vows investments within 3 weeks". Geektime. 2020-06-09. Retrieved 2021-03-13.
- ^ Rubinstein, Carrie. "Trump's Executive Order Pushes Startups Out Of US Markets". Forbes. Retrieved 2021-03-13.
- ^ "Fusion LA accelerator for Israeli startups raises $5m". Globes. 2017-11-29. Retrieved 2021-03-13.
- ^ "A Santa Monica Accelerator for the 'Startup Nation' Deals with COVID". dot.LA. 2020-11-10. Retrieved 2021-03-13.
- ^ CTech (2021-01-03). "The tech market marches on, despite 2020 setbacks from Covid-19". CTECH - www.calcalistech.com. Retrieved 2021-03-13.
- ^ a b "Fusion LA accelerator for Israeli startups raises $5m". Globes. 2017-11-29. Retrieved 2021-03-13.
- ^ Spiro, James (2020-12-15). "Start-Up Nation Central launches 'UAE-IL Tech Zone', a shared innovation community". CTECH - www.calcalistech.com. Retrieved 2021-03-16.
- ^ Solomon, Shoshanna. "Israel, UAE initiative sets up LinkedIn community to promote tech ties". www.timesofisrael.com. Retrieved 2021-03-16.
- ^ Cabral, Alvin R. "Tech investments to spike as UAE-Israel cooperation steps up". Khaleej Times. Retrieved 2021-03-16.
- ^ "UAE-Israel Business Leaders Summit: Startup Nation Central launches UAE-Israel 'innovation community'". gulfnews.com. Retrieved 2021-03-16.
- ^ "Israeli Tech Hits Silicon Beach with Fusion L.A." Jewish Journal. 2018-11-14. Retrieved 2021-03-13.
- ^ "TECH TALK: Israeli startups find fusion with Los Angeles". The Jerusalem Post | JPost.com. Retrieved 2021-03-13.
- ^ a b "A Santa Monica Accelerator for the 'Startup Nation' Deals with COVID". dot.LA. 2020-11-10. Retrieved 2021-03-13.
- ^ Carmona, Sergio. "Jewish agencies receive funds to reduce senior isolation". sun-sentinel.com. Retrieved 2021-03-13.
- ^ "Digital Owl emerges from stealth with AI that analyzes and summarizes medical records". VentureBeat. 2021-02-08. Retrieved 2021-03-12.
- ^ Orbach, Meir (2021-01-05). "Israeli AI chatbot startup Spetz.io to be acquired by U.S. company Paradox.ai for $5 million". CTECH - www.calcalistech.com. Retrieved 2021-03-12.
- ^ Investors bet $1 million on Israeli customer service startup
- ^ "Magical raises $3.3M to modernize calendars". TechCrunch. Retrieved 2021-03-16.
- ^ Spiro, James (2020-10-12). "Proptech company Agora raises NIS 3 million". CTECH - www.calcalistech.com. Retrieved 2021-03-12.
- ^ Sinai, Allon (2020-12-05). "Silicon Valley Boot Camp: Fusion LA accelerator marched out 49 startups in 3 years". CTECH - www.calcalistech.com. Retrieved 2021-03-13.