The Deep Future is Now.
Recent years have been proof that technology’s contribution to the future of the world is of immense value. Game-changing innovations helped spread knowledge, played a crucial role in fighting against pandemics, and created unprecedented opportunities.
The flip side is that society must deal with the consequences of massive technological adoption: challenges to political and social structures, an ongoing battle over what is considered to be true in this digital age, or technological advances that have increased energy demand and contributed to climate change (while they have also allowed humanity to develop techniques to address it).
What we know for sure, is that the coming decade will bring even more futuristic technologies. Founders who build cutting-edge technologies will allow rapid digitalization processes to happen. Innovations that will shape our future and transform industries are forming in front of our eyes: The Deep Future is now.
My generation of innovators laid many of the foundations that enabled the disruptions that have shaped the present. When I founded M-Systems 30 years ago, we had to deepen our understanding of flash memory storage. This was essential to build the right infrastructure that enabled the widespread adoption of our technology that started out in the USB Flash Drive and exists today in your phones and computers. As a result, M-Systems was one of the largest Israeli tech M&As of its time.
My partner Lior Handelsman and his co-founders of SolarEdge went on a similar journey when fifteen years ago, they decided to revolutionize the energy industry by reinventing key parts of the solar-energy infrastructure. Their success changed the energy industry forever. Today SolarEdge is the first Israeli company listed in the S&P 500 index.
We believe that now is the best time to invest in our Deep Future by partnering with companies that influence the lives of future generations and disrupt the industries they operate in. 50 years after the arrival of microprocessors, 30 years after the arrival of the internet, 20 years after the beginning of the Cloud computing revolution, and 10 years after AI started to reach commercial maturity: the Deep Future is now. So let’s lay the foundations of this hyper-digitalized era.
When we chart a course for the Deep Future, we are reliant on transformative technologies, some of which are at early development and may require years of work to mature. However, this is not the entire scope of the ‘Deep Future is Now’ we envision.
We believe that a major part of the Deep Future includes companies and entrepreneurs that leverage technology to overhaul how we operate and disrupt existing industries.
We are experiencing the perfect storm of the data revolution:
- The connection between the physical and digital world is stronger than ever, major technology breakthroughs in sensing Edge computing and communication are generating massive amounts of data about our lives. Companies like Wiliot, Trieye, 3dSignals, Ramon.Space, and NoTraffic, (which we are proud to have in our portfolio) are great examples of the transformative effects in automotive, smart cities, and even Space.
- Software and hardware The technological form the backbone, which carries most of the burden of the infrastructure revolution. The importance of R&D departments and budgets is therefore growing rapidly, and the ability to attract better talent to build core technology is becoming a main differentiating factor in business.
Our companies like RapidAPI, NeuroBlade, Lumigo, env0, Teramount, and Unifabrix are great examples of companies that equip developers and engineers with next-generation tools, infrastructure, and capabilities to overcome the challenges and seize the opportunities of the data revolution.
- The ability to analyze data at scale and to collect billions of data points into meaningful insights is like something we have never seen before. Technologies of Machine Learning and Artificial Intelligence are finally meeting Sci-Fi expectations.
Our companies like Datorios and Deepchecks are great examples, building the infrastructure that will allow enterprises to implement a new generation of algorithms, in multiple workflows, at scale. Data points will become valuable, actionable insights.
- The biggest winners shaping the Deep Future will be those companies that use the technological breakthroughs of the data revolution and create vertically integrated products.
Our companies like ActiveFence, Navina, CommonGround, Nucleai, Protai, and Mirato are great examples of companies that have taken significant steps to redefine the worlds of online Trust and Safety, patient-physician treatment, interpersonal communication, drug discovery, and financial institutions.
We founded Grove Ventures seven years ago with the mission to be the best partners for those entrepreneurs that will define the Deep Future. Today, we announce the launch of Grove III, our $185M fund, that will help us partner at an early stage with exceptional Israeli entrepreneurs who share our belief that the Deep Future is now. As Grove expands, so does our team grow: we are happy to confirm the promotion of Renana Ashkenazi to General Partner.
The journey to design the Deep Future is not easy. Therefore, we believe that entrepreneurs should be:
- Comfortable at being exceptional. Being exceptional means entrepreneurs who believe that the Deep Future is now and are ready to build it. Being exceptional means challenging the status quo. Being exceptional means that you arrive early: you do not follow a trend, you are creating it. Being exceptional is doing your best because that’s all you can do. Being exceptional means being truly remarkable, not just a little bit better. Being exceptional is being remembered for the good you create and for leading the way.
The people who separate themselves from the herd are the ones who shape its fate and destiny. We are their partners.
We believe that entrepreneurs should build:
- Category-defining companies. We want companies who are attracted to a challenge. Companies who instead of being put off by big problems, aim to solve them. Companies are taking advantage of the greater access to research and technological capabilities.
We believe as we did when Lotan Levkowitz and I founded Grove Ventures that two core principles should lead in any decision:
- People first. We believe that people are at the heart of every success and that close cooperation is key to any success. We understand the journey, value extraordinary talent, and allow our founders to build their ventures in their own, unique style. We have our founders’ mindset, but most importantly we have their backs, and we will always support them and the Israeli ecosystem.
- Creating value. This is the ‘Ikigai’ (the reason for being) of all our team. Our main purpose is to provide positive value to the people we encounter every day, to our society, our partners, and most importantly, to the amazing teams that are building the Deep Future. We study every detail, and we work for our founders and companies all day, every day. Our ranking in Founder’s Choice as the best VC fund in Israel shows that founders who work with us, choose us.
If you are a founder, and if you identify with our beliefs, and want to build the Deep Future we invite you to partner and build it together with us.
There’s no better time.
The Deep Future is now.