04/26/2007
Israeli technology incubator Lab One secures $3.5 million from Migdal Capital Markets
Lab-One Innovations, an early-stage investor and technology incubator, has closed a $3.5 million round of financing led by Migdal Capital Markets a leading asset management and brokerage house owned by Migdal Insurance and Bear Stearns Asset Management. Other participants in this round include Tel Aviv Economic Development Authority and Lab One's founders Yuval Cohen and Adoram Gaash.
“With this funding and the state funds, we plan to invest in 12-15 seed projects over the next three years,” said Yuval Cohen, Lab One's Chairman. “We aim to continue to invest in best of breed companies and bring them value as we have done in the past, where 50% of our portfolio companies have already completed significant up-rounds from VC financing.”
Lab-One Innovations is a leading early-stage investor and technology incubator, focusing on Information & Communications Technology (ICT) investments, and is located in the heart of Tel Aviv. The incubator receives state funding up to 85% of the total investment in a new company where the other 15% comes from the incubator's own resources or external investors.
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