Startups floundering during war turn to new emergency fund [Video]

Israeli precision agriculture company Greeneye was thriving before October 7. 

The company developed an AI-enabled spraying system that reduces herbicide use by up to 94% and was set to close an investment round in support of launching strategic partnerships in the United States for the 2024 growing season.

“Two days after the war started, they were informed that a major new investor was pulling out. This caught them at a critical phase and the entire round collapsed,” says Gil Friedlander, cofounder of Iron Nation, a volunteer-led emergency impact fund.

“This amazing company could have gone bust because of the force majeure of a war. And the three Greeneye cofounders were in the reserves, trying to save the country while trying to save their startup as well.” 

Iron Nation stepped in with a commitment of $750,000. In addition, says Friedlander, “we verified that the existing investors will invest as well and bring some fresh money in. With our support and …