Flora Ventures Emerges As Largest AgriFood VC Firm in Israel with $80M Fund

Flora Ventures has announced the launch of its $80M fund, with its first closing securing commitments of $50M and establishing it as the largest Israeli-based AgriFood venture capital firm.

The data from IVC confirms Flora Ventures is the largest new VC fund in Israel to complete a first closing during 2023 across all tech investment verticals.

The firm focuses on investing in early-stage start-ups within Israel and Europe, aiming to build a more sustainable and resilient AgriFood system while supporting global expansion for these ventures.

The fund has a partnership with the Israeli Kibbutzim, pioneers of innovative agriculture, who serve as anchor investors and partners.

‘the next generation of AgriFood unicorns’

Flora co-founders, Gil Horsky, a former Mondelēz executive, and Esther Barak-Landes, a renowned VC investor, secured funding in just four months. They identified opportunities to address technology gaps in areas such as food security, digitization, sustainable agriculture, and food as medicine.

“I’ve been fortunate in my career to lead important VC deals in the Retail-Tech, FinTech, and Digital Transformation sectors, which enables me to reapply proven technologies and business models to the AgriFood industry where it is greatly needed. I am excited to bring my skills to finding and fueling start- ups from Israel and Europe that are good for people and kind to the planet, while helping to build the next generation of AgriFood unicorns,” said Barak-Landes.

“Working for leading food multinationals, as well as co-founding one of the industry’s most successful corporate venture capital (CVC) and incubation initiatives in Mondelēz, taught me the value of having design partners early on,” said Horsky. “That’s why we are excited that Flora can provide our start-ups proprietary access to Haifa Group, Sadot Kibbutzim and Harel Group, which are among the most innovative and agile design partners in the industry.”

First investment

Flora says it has already completed its first investment in Arrakis Bio, a stealth-mode Israeli startup, developing a breakthrough technology poised to revolutionize the production and utilization of human collagen and gelatin made without animal ingredients.

Flora Ventures successfully completed the initial raise with strategic partners, including Sadot Kibbutzim, providing the fund’s portfolio with proprietary access to agricultural land, production capabilities, and expertise. Other key anchor investors in this closing include Haifa Group, a world leader in plant nutrition and special fertilizers, and Harel Group, Israel’s largest insurance and finance group.