Joy Ventures Venturing into Neuro Wellness Field

A new investment firm, Joy Ventures, recently opened their offices in Herzliya Pituach, Israel. The company will be an incubator, nurturing the development of start-up companies and will also invest in research projects. Joy was launched by the Israeli-Japanese Corundum Open Innovation Fund with $50 million dedicated to the first phase of its operations.

Joy Ventures will work with startups, tech incubators for entrepreneurs, and grants for academic research in the new and exciting field of Neuro Wellness. Neuro Wellness is a field which will influence the development of new consumer products and technologies based on research in neuroscience.

Heading up the company is Avi Yaron, a serial entrepreneur. He is the founder of Visionsense and invented a cutting-edge tool for the complex brain surgery.

“Many years of being involved in the development of brain surgery technologies, made me realize the human need for joyful and relaxed moments and how critical they are for our health. Many neuro researches show that the modern life intensity contributes to prolonged hostile emotions of sadness, anger, anxiety, guilt and more. These emotions, in turn, generate stress and collect a heavy toll from our health. Originally developed to make things easier for human beings, technology actually intensifies the tension we live in. For this reason we decided to invest in neuro wellness by leveraging the large body of research and neuro developments in Israel. We plan to promote the development of scientifically-proven consumer products which are based on neuro science to alleviate stress, promote calmness and happiness and enhance people’s well-being in the long term,” said Yaron.

Four Israeli Tech Companies Receive Funding for Startups

After four successful fundraisers, the Israeli high-tech sector secured $114 million in support for two venture capital funds and two startups. Joy Ventures, a venture capital investment company received the bulk of the funding, $50 million. Co-founder Avi Yaron said Joy Ventures will use the seed money to invest in startups especially dedicated to developing consumer products offering relief from stress and mood alteration. Yaron called this new type of consumer product “neuro-wellness solutions.”

Another venture capital company, First Time, raised $40 million out of an expected $60 million for a fund which will invest in three startups. This is the second fund that co-founders Ilan Shiloah, Nir Tarlovsky and Jonathan Benartzi launched, and it will focus on startups connected to the internet, media, eCommerce and the Internet of Things. The First Time 2 fund will be seeding startups with between half a million and two million dollars each.

The two startups receiving funds are Chorus.ai, and Laminate Medical Technologies, receiving $16 million and $8 million in funding, respectively. Chorus.ai’s technology uses proprietary speech-recognition technology to transcribe, analyze and give real-time feedback on sales calls. The idea is to help sales representatives analyze their on-call performance to increase sales.

Laminate, founded in 2012, developed a device which supports blood vessels for people on dialysis. The money was raised from a European venture fund and a Chinese pharmaceutical company.