Lucid lands Israeli crowdfunding cash
By Andy Giegerich
Digital Managing Editor
Lucid Energy's Gregg Semler says the company's work with OurCrowd could help it further tap the $650 billion water infrastructure market.
Lucid Energy officials said their company has become the first U.S. enterprise to receive money from an Israel crowdfunding specialist.
Lucid collected the money from OurCrowd, a hybrid venture capital crowdfunding platform.
Lucid execs collected $600,000 from the Israeli venture.
Portland-based Lucid makes renewable energy systems.
“The speed and efficiency of the OurCrowd platform – which has brought entrepreneurial investors to us from as far away as Israel, New York, Brazil and Australia – is amazing,” said Gregg Semler, Lucid Energy’s CEO, in a statement.
Jonathan Medved, a well-known high-tech venture capitalist, started OurCrowd with 10 other Israeli investment professionals. He spoke last year at the newly formed Oregon-Israel Business Alliance’s meeting.
“In Israel, we are passionate about clean water and renewable energy technologies,” Medved said in a statement. “Water is our most critical resource, and as a result we have become a global leader in smart water by necessity. When we saw considerable interest in the LucidPipe technology from a major Israeli water agency, we realized that Lucid Energy is a game-changer for water agencies who constitute one of the world’s largest consumers of energy.”
Lucid will use the funding to roll out its LucidPipe Power System, a hydroelectric product. The company wants to tap into what it called a $650 billion water infrastructure market.
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