TEL AVIV, ISRAEL — FLORA Ventures has launched an $80 million fund to invest in early-stage food and agriculture technology startups in Israel and Europe.
The fund’s co-founders are Gil Horsky, former executive and corporate venture investor at Mondelez International, and Esther Barak-Landes, a venture capital investor and co-founder of Nielsen’s incubator and investment arm.
The pair secured funding in four months, completing the initial raise with strategic partners including Sadot Kibbutzim, an Israeli agricultural co-operative supporting the fund’s portfolio companies by providing access to land, production capabilities and expertise. Additional investors include several family offices, Haifa Group, a leader in plant nutrition and special fertilizers, and Harel Group, Israel’s largest insurance and finance group.
Areas of focus are food security, digitization, sustainable agriculture and food as medicine. The fund has completed its first investment in Arrakis Bio, an Israeli startup in stealth mode that is developing technology to produce and utilize human collagen and gelatin.
The founders said the fund leverages their complementary skills and network. Ms. Barak-Landes has led venture capital deals in retail technology, finance technology and digital transformation sectors. Mr. Horsky was on the founding team of SnackFutures, the venture and innovation hub at Mondelez International, and previously held various commercial roles at PepsiCo and Kraft Foods.
“Working for leading food multinationals, as well as co-founding one of the industry’s most successful corporate venture capital and incubation initiatives in Mondelez, taught me the value of having design partners early on,” Mr. Horsky said. “That’s why we are excited that FLORA can provide our startups proprietary access to Haifa Group, Sadot Kibbutzim and Harel Group, which are among the most innovative and agile design partners in the industry.”Enjoying this content? Learn about more disruptive startups on the Food Entrepreneur page.
