TV company Sky plc has announced a $4 million commitment to Israeli venture capital fund Remagine Ventures, a newly launched fund based in Tel Aviv, is managed by Kevin Baxpehler (former investor at ProSiebenSat1.Media) and Eze Vidra (former Partner at Google Ventures Europe). The venture capital fund will focus on technology startups within tech, entertainment, data and commerce, Globes reports.
Sky said that partnering with Remagine will give it more access into Israel's dynamic and fast growing technology companies, which includes a strong pool of talent in computer vision and machine learning. Sky invests in companies to accelerate innovation, identify growth and achieve cost efficiencies through the adoption of new operating models.
Sky Group Director of Business Development and Partnerships Emma Lloyd said, "Six years on from our first investment, we're expanding our startup activity across Europe and Israel. Spending time in both Berlin and Tel Aviv has left us hugely impressed with the energy, dynamism and talent of both tech scenes. This is an exciting new chapter for us and we can't wait to get started and uncover new, innovative startups across the regions and beyond."