Cardumen Raised $120M for Israeli’s Deep Tech

18 January, 2024

Co-Founder Gonzalo Martínez de Azagra: "Our commitment to Israeli tech is stronger than ever. It's in tough times when great companies are built"

Photo above: The Cardumen Capital team

Israeli-European venture capital firm Cardumen Capital has raised $120M for its second Deep Tech Fund focused on early-stage Israeli startups. Up to now, Cardumen Capital has invested in 32 Israeli companies in AI, Cybersecurity, Big Data, and Information Communication Technologies (ICT). It said it will continue investing in pre-seed and seed Israeli software and hardware companies.

Cardumen Capital supports and works closely with entrepreneurs in anything from business development to fundraising. It’s portfolio of exceptional entrepreneurs has a strong co-investor base such us as SaaS cybersecurity platform DoControl (backed by Insight Partners and Crowdstrike), Big Data B2G platform IVIX (backed by Insight Partners and Citi Ventures) or NeuReality (backed by Samsung and SK Hynix).

“Israeli entrepreneurs rise to the occasion under adversity”, said Cardumen’s Co-Founder and General Partner, Gonzalo Martínez de Azagra. “It’s in tough times when great companies are built. Our commitment to Israeli tech is stronger than ever. As a team of Israelis and Europeans, heavily connected with the US and Asian markets, we are well-positioned to give our startups access to worldwide markets.”

Cardumen Capital is a Venture Capital firm with offices in Tel Aviv and Madrid. Chaired by Gil Gidron and founded in 2018 together with Gonzalo Martínez de Azagra and Igor de la Sota, the company invests in early-stage DeepTech companies. Cardumen Capital has more than $225M under management and a team of professionals with a solid track record and more than a decade of experience investing in tech companies worldwide.

One of its portfolio companies, Nagish, which uses AI to make communication accessible for deaf and hard of hearing individuals, has been lately certified by the Federal Communications Commission (FCC) to provide telecommunication relay services. The certification makes Nagish one of the very few certified providers. Nagish provides speech-to-text and text-to-speech solutions via a real-time captioning engine that makes calls more accessible for people who are deaf or hard of hearing while keeping calls private and secure.

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Posted in tags: Cardumen , vc