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The Venture Codex

ICI Fund

320 E Vine Dr Ste 101, Fort Collins, CO, 80524, United States

Overview

Israel - Colorado Innovation Fund Invests in innovative Israeli startups in water, energy and transportation.

Total investments
4
Lead investments
2
Investments · 12mo
1
Active investors
1

Sector focus

  • Financial Services
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Investment portfolio

  • Feminai

    Participated · Seed · Jan 2026

    Feminai is an Israeli health-tech startup building a wearable sensor patch that continuously monitors breast tissue density and blood-flow patterns, then analyzes the data with proprietary AI algorithms to detect early signs of breast cancer. The company’s first in-human clinical trial at Sheba Medical Center reported 96% sensitivity and a 98% negative predictive value, indicating strong diagnostic accuracy. Co-founded by physician-CEO Dr. Karny Ilan along with Gal Yanuka and Shani Klein, Feminai aims to replace or supplement clinic-based imaging with a more accessible, affordable, and user-friendly home solution. The recent seed funding equips the team to scale hiring, pursue regulatory clearances, and finalize go-to-market preparations. Feminai ultimately intends to bring its device to global markets as a subscription or device-plus-software service, targeting earlier detection and improved outcomes for women’s health. Prior to the seed round, no additional funding amounts were disclosed.

  • Kando

    Led · Equity · Oct 2024

    Kando provides a solution that leverages proprietary machine learning models trained on in-house IoT wastewater data to optimize wastewater quality management. The platform enables significant cost savings, enhances wastewater reuse, and supports sustainable urban water management in cities across the US and Europe. The company intends to use the new funds to drive global expansion, focusing on the US and Europe. Kando raised $10M in the latest round, bringing total capital raised to $30M. The company is based in Tel Aviv and was founded by Zohar Scheinin and Ari Goldfarb. Kando develops an end-to-end wastewater smart management solution combining hardware, cloud software and expert services to monitor key wastewater quality parameters in real time. Its core product is a cloud-based SaaS platform that tracks and reports wastewater collection-system metrics and supports big-data analytics. The company says it will use new funding for product and business development and to continue improving its monitoring and analytics tools. Kando was founded in 2011 by CEO Ari Goldfarb and employs a team of about 20 industry veterans across environmental, chemical and process engineering, project management and software development. The announcement does not disclose revenue or user metrics.

  • illumex

    Participated · Seed · Jun 2024

    illumex provides a Generative Semantic Fabric that automatically discovers, maps and adds semantic meaning to structured enterprise data, creating a unified semantic knowledge graph and domain-specific ontology. The platform reconciles data silos, aligns terminology across sources, and analyzes metadata without accessing underlying sensitive information to preserve governance. By adding consistent business context and vocabulary, illumex aims to enable LLMs to reliably map queries to the correct data points and improve accuracy of GenAI applications. The company says its technology addresses shortcomings of RAG and manual labeling for structured data, reducing ambiguity and duplicate or conflicting records. illumex has enterprise customers including Teva and Carson and partnerships with Microsoft, Google Cloud, and AWS. The company announced a $13M seed funding round to accelerate enabling trustworthy and governed enterprise GenAI with structured data.

  • Viridix

    Led · Seed · Oct 2019

    Viridix has developed a sensor combined with a software platform that measures soil moisture and provides actionable irrigation guidance to improve crop yields and save water. The company says its solution has been well received in Israeli, European and Asian markets and it aims to expand into the U.S. market. Viridix’s leadership, including CEO Tal Maor, targets becoming the leading global autonomous irrigation system and plans to partner with major irrigation companies to achieve that goal. The company cites research (USDA‑funded) showing soil moisture–driven irrigation can increase yields by 11–26%, positioning its product as a way to realize those gains. Commercialization support for U.S. expansion is expected via the Israel–Colorado Innovation Fund’s partner network and Innosphere’s growth packages. Financially, Viridix closed a $2.35 million seed round in 2019 to accelerate growth and U.S. market entry.

Team