Message From The Team
As 2023 draws to a close, we reflect on a year marked by both remarkable challenges and achievements. In particular, we witnessed the strength and resilience of our founders as they navigated and adapted to the market correction and war at home. In aggregate, our companies raised $200 million in fresh capital, generated tens of millions in revenue and achieved breakthrough innovation and category leadership. At F2, we enhanced our team with new professionals and launched new partnerships with Nvidia, Microsoft, Google and Amazon for Generative AI. We would like to thank you for your support all along the way and wish you and your families happy holidays and a peaceful new year.
October 7th's Impact on Israeli Tech
Former Israeli Ambassador to the U.S., Dr. Michael Oren, joined our recent Investor Call to share his analysis of the current situation in Israel. He delved into the events leading up to October 7th, the geopolitical and media dynamics at play and the outlook for innovation and partnership in the region.
View our discussion below:
Sector Spotlight
The tension between AI ethics and profits recently took center stage amidst the management and board shakeup at OpenAI. The controversy focused around the potential danger of Artificial General Intelligence (AGI), which OpenAI defines as autonomous systems that surpass human capabilities in economically viable tasks. Reports indicate that a new OpenAI model successfully solved certain mathematical problems. While generative AI excels in tasks like writing and language translation, mastering mathematical calculations implies enhanced reasoning abilities akin to human intelligence. Concerns about AI's impact on humanity have prompted regulatory responses, such as the US executive order on AI safety and the EU's AI Act. Balancing AI's transformative potential with ethical responsibility will remain a key challenge for startups building in the space. Read more
Sector Spotlight
Zero Networks | [F2 I, Select Fund] Announces $20 million Series B and 5x revenue growth. Read more
Explorium | [F2 I] Launches revenue data solution (RDS) platform for the manufacturing sector. Read more
Voom | [F2 I] Launches new usage-based insurance for rideshare and delivery drivers. Read more
Astrix | [F2 II, Select Fund] Recognized by the White House as AI security innovator. Read more
QuantHealth | [F2 II] Pre-seed backed company closes Series A round led by Bertelsmann. Read more
What We Are Reading
Inside the AI Arms Race that Changed Silicon Valley Forever | New York Times
Google Launches Gemini, the AI Model it Hopes Will Compete with GPT-4 | The Verge
Elon Musk Announces Grok, a 'Rebellious' AI with Few Guardrails | Wired
The World is Splitting Between Those Who Use ChatGPT to Get Better, Smart, Richer – And Everyone Else | Entrepreneur
Palo Alto Networks Closing on $100 Billion Valuation as Entire Cyber Ecosystem Flourishes | Calcalist
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