Schneider Electric Backs VC Grove Ventures

Leading Israeli VC Grove Ventures received a $10 million investment from Schneider Electric in its second fund, Grove II. The firm’s Co-founder and Managing Partner, Dov Moran, previously led M-Systems Inc., the company that invented the USB flash drive. The fund focuses on early-stage Israeli deep tech companies in areas such as chips, IoT, AI, and cloud infrastructure. Grove Ventures aims to lead innovation in sectors including industry 4.0, digital health, and smart transportation. Schneider Electric’s investment strengthens its presence in the Israeli innovation ecosystem, aligning with its interests in industry 4.0, AI, and machine learning.

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