Lool Ventures

Lool Ventures is an Israeli seed fund with $200 million under management.

Funding IOF combat drones

Lool's portfolio includes XTEND, the Israeli drone manufacturer whose systems are in operational use by the IOF. Since October 7, XTEND redirected its activities to "supporting the IDF 100%". Its drones were used in Gaza and Israel selected XTEND to supply 5,000 combat drones to IOF ground forces.

Defending war crimes

On October 13, 2023, the CEO of Web Summit, Europe's largest technology conference, posted on social media criticizing Western leaders for failing to condemn Israel's war crimes in Gaza and the genocide carried out by Israeli Occupation Forces. In response, Lool Ventures joined a coalition of Israeli venture capital firms issuing a joint statement announcing their boycott of the conference.

We, members of the Israeli high tech community, have made the decision to cancel sponsorship and will not attend the upcoming Web Summit. We cannot, in good conscience, participate in a conference whose leadership blames Israel for war crimes while Hamas terrorists committed one of the worst terror attacks in modern history,

Despite the CEO of Web Summit's statement presenting factual observations within the context of the atrocities (later confirmed by the UN) Israeli venture capitalists demanded unwavering support for their state, which was already engaged in the mass killing of civilians at the time.

Sources:

• Lool Ventures Portfolio
• Statewatch EU-funded drone technology being used in war on Gaza
• Defense Mirror Israel Chooses Xtend to Supply 5,000 Combat Drones to IDF Ground Forces
• Calcalist Google Withdraws from Web Summit; Israeli VCs Unite in Joint Conference Boycott
• UN OHCHR UN Commission finds war crimes and crimes against humanity in Israeli attacks
• X Paddy Cosgrave

Portfolio Companies & Investments