State of Mind Ventures

15/01/2024

SOMV's portfolio keeps churning out newsworthy achievements!

This time, Ask-AI has raised $11 million in Series A funding, reaching a total of $20 million. This surge in funding coincides with the launch of their innovative AI assistant, ASK.

Spearheaded by Leaders Fund and supported by Vertex Ventures and others, Ask-AI stands out in generative AI for enterprises. Their AI integrates with over 50 systems, revolutionizing workflows in customer support, R&D, and more. With plans to double its team, Ask-AI is set to make a significant mark in AI-driven enterprise solutions 🚀

Well done Alon Talmorand the team!

Check out the full coverage on TheMarker (in Hebrew) and CTech by Calcalist (English) for more on Ask-AI's impressive journey - links in the comments.

16/12/2023

Hanukkah, the holiday of lights, is a great opportunity to commemorate and reflect on the light our founders bring to the world by coming together to light the Menorah.

In one of our nation's darkest times in decades, they're holding the economic front steady, hosting events that exemplify true leadership, and sharing their insights and words of advocacy on social networks.

Through their actions, our founders are turning a traditionally dark month into one brimming with brightness and potential.

Happy Hanukkah to you all ✨

Merav Rotem Naaman Nir Adler Shelly Nicee Tal Yuval Baharav Omer Kalderon Chen Omer Matz Ido Bukspan May Piamenta Roy Akerman Ofek Ron Ariel Utnik

13/11/2023

We asked Rotem Amitai, VP of Global HR at Rivery, how her team is exhibiting business resilience, in light of the ongoing Iron Swords War in Israel. Here's what she had to say:

"In challenging times like these, clear communication is our first step. From the first day of this difficult situation, my team and I have made it a point to keep in touch with our staff. We talk to them regularly and keep them updated, whether that's reporting on the situation to our global employees, holding weekly updates on business status, or even continuing to hold management meetings—despite our CEO being on reserve duty. This open dialogue helps not just our team in Israel but also our staff around the world.

Facing uncertainty, it's natural for people to be concerned. The economy was already in a less-than-ideal situation, and the current war has made things more complicated. At Rivery, we have a business plan for the next two quarters that we're sticking to, while remaining open to changes. Flexibility is important, especially now.

The key for us is to keep everyone informed. We share what we know and admit what we don't. We regularly update on where we stand with the plan, what we chose to continue, what has been paused, the status of our workforce, and how we're contributing to the war effort here in Israel. By doing so, we bring some level of certainty into an uncertain situation, which is crucial for coping with such a difficult and unsettling period."

12/11/2023

It is with a heavy heart that we share the news of the passing of Amir Kotlerת Veego Software Ltd.’s beloved Co-Founder & CEO Amir was a wonderful human being, a real friend, an artist and visionary at heart and a wonderful father and husband.

Amir’s vision and leadership transformed Veego, and his impact will resonate for years to come.

Amir fought a courageous battle against cancer, leaving an indelible mark on our hearts. As we mourn the loss of a dear friend, let us remember Amir for the incredible person he was and the positive change he brought to our lives and the industry.

Our thoughts and deepest condolences go out to Amir's family, friends, and the entire Veego team during this difficult time.

10/11/2023

We're thrilled to share that סולי , has become an emotional lifeline for hundreds of women across the nation during times of heightened conflict and terror. Following every security alert, women are turning to Soli's platform to talk, comfort, and bolster one another, effectively diminishing the pervasive sense of fear and isolation.

Founded by Neta Schreiberwith the mission of creating a virtual sisterhood, Soli is more than just an app—it's a community. Designed to offer immediate emotional support, Soli connects women in the vicinity who understand what each other are going through. Whether you're feeling unsafe or simply need a listening ear, Soli ensures that someone is there for you, 24/7. The standout feature? Soli’s Super-Solis, vetted and trained individuals, who provide next-level TLC to anyone in need.

As the Iron Swords war continues, Soli stands as a testament to the resilience and innovation of Israeli startups. With an unwavering commitment to supporting emotional well-being, Soli magnifies what it means to maintain business continuity while making a significant societal impact.

We couldn't be more honored to have them in our portfolio.

02/11/2023

Congratulations to Optibus for enabling Transdev's RBU Santiago to significantly improve operational efficiency. Within just six months, they achieved one of the city's best frequency rankings and strengthened compliance with local transport authorities.

Optibus is a game-changer in public transit. Founded in 2014 and headquartered in Tel Aviv, they've rolled out their services to over 4,000 cities globally. Their client base includes leading transit providers and transportation agencies, who trust Optibus to modernize their operations. What sets them apart? It's their cloud-native, AI-powered platform that optimizes everything from routes to rider experience.

In the midst of war, Israeli startups, like Optibus and our other portfolio companies, are remaining resilient, contributing to a robust global economy. Optibus exemplifies the innovation and resilience that Israeli startups are known for - and we couldn't be prouder to have them in our portfolio.

Read the full case study here: https://hubs.ly/Q02656zg0

01/11/2023

“On Saturday, October 7, 2023, we woke up to an altered reality. First and foremost, we checked in on every team member's well-being..."

At SOMV, we're checking in with each of our portfolio companies to understand how they're navigating 'business as usual' during the ongoing war. Here's what Pazit Oz, VP of HR at Copilot.cx, had to share:

“On Saturday, October 7, 2023, we woke up to an altered reality. First and foremost, we checked in on every team member's well-being, both personally and within their families. Once that was secured, we smoothly transitioned to remote work, ensuring everyone had the tools needed for efficiency.

As part of our immediate response, HR took the lead in resource mapping. The aim was to understand how to optimize existing resources under these challenging conditions. We guided our managers, prioritized tasks, and set up a framework that would allow us to operate as normally as possible, while also looking out for the company's resilience and, just as crucially, our employees' well-being.

Because we're a small startup, agility is part of our makeup. We're always called upon for flexibility and quick response times. The goal is to continually strike a balance between practical needs and emotional support, aiming for long-term sustainability for both our employees and the company as a whole.

So long as the war goes on, we'll continue to roll out initiatives that best address both the company's and our employees' needs and sensitivities. We remain committed to finding adaptable solutions that sustain our business while also caring for our team."

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29/10/2023

We're moved by the strong show of support from the 500+ venture capital firms who've placed their trust in Israel by signing an open statement to that effect. It's a testament to the global respect for Israel's entrepreneurial spirit - one we never take for granted, especially in trying times.

We join our venture colleagues in urging continued commitment to Israeli startups, entrepreneurs, and investors. After all, the true strength of our global community emerges when faced with adversity, reinforcing Israel's unwavering sense of brotherhood, our resilience, and our standing as the ‘Startup Nation.’

Read the open letter, first shared in Forbes Magazine 👇

Read the Statement of Support:
https://lnkd.in/gaWFFc98

25/10/2023

State of Mind Ventures unequivocally stands with the State of Israel, especially in the wake of the heartbreaking events on October 7th and the ongoing Iron Swords War. These violent acts, which have targeted a range of innocent lives, are wholly unacceptable. We're not just a firm; we're a community of human beings, and such malice has no place in the world we strive to improve.

We affirm Israel's right to defend its people and territory, and we are confident in the nation's ability to persevere through these challenging times. Our immediate concern and support go out to our colleagues, the entrepreneurs we back, and their families who are impacted by this unrest.

The Israeli community has shown remarkable resilience and unity—volunteering, donating, and rallying together in the face of adversity. We share this commitment and continue to support our Israeli teams, portfolio companies, and broader humanitarian efforts.

It's essential that we all contribute to the re-establishment of peace and stability, not just for the State of Israel but for the world at large. Our dedication to fostering within the Israeli tech ecosystem remains unshaken, as we look towards a more peaceful future.

14/08/2023

August has been an exciting month for us at SOMV 🤩 marking achievements that resonate with our values and mission. We were thrilled to be featured in tech12 Magazine, where we discussed our Initiative, reflecting our dedication to support founders in building successful companies.

Some of our portfolio companies have been making headlines as well:

🌟 SpacePharma launched its 9th medical experiment laboratory into space, setting a new precedent in space innovation.

🌟 Pliops and Opstream secured spots on Gartner's 2023 Hype Cycle report, showcasing their potential and prowess.

🌟 Amir Kotler, CEO of Veego, wrote an article in Forbes about the top three things that make people leave broadband services. Click here to read his thoughts.

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Nir Adler Merav Rotem Naaman Yuval Baharav Shelly Nicee Tal Omer Kalderon Chen

SOMV Email Forms

01/06/2023

Yesterday, we had the privilege of hosting an event featuring industry luminaries Adi Soffer-Teeni, Gil Hirsch, and Yuval Baharav at the Meta offices in Tel Aviv. Together, they shared their personal experiences, valuable insights, and effective strategies for navigating the challenging landscape of being a startup founder in today's world.

The event aimed to provide a safe and supportive space for startup founders to openly share their journeys, victories, and obstacles. We delved into the intricate details, shining a light on the difficulties encountered by those striving to leave a lasting impact.

During the event, our panelists fearlessly shared their wisdom, offering practical advice on surviving and thriving in such circumstances. Their resilience and innovative approaches served as inspiration for all in attendance, emphasizing the importance of adaptability and perseverance.

At SOMV, our commitment lies in empowering startups as they face the trials of the fast-paced business landscape. We understand the unique challenges posed by downturns, global pandemics, and the current judicial reform in Israel, and we are dedicated to providing support.

A heartfelt thank you goes out to everyone who joined us, making the event a success. Special thanks to the exceptional Dorit Rosenfeld for skillfully facilitating the panel discussion.


Nir Adler Omer Kalderon Chen Merav Rotem Naaman Yaara Landau Kanner Eli Gold