New VC fund signals revival of Israel’s young startup scene

Prominent Israeli tech investor Gilli Cegla has announced the creation of a new $10 million fund under the intriguing Unicamel brand.

The fund is Cegla’s second venture into the investment sector, following the success of his Direct Round fund.

Cegla, a seasoned entrepreneur who has long been involved in the thriving tech ecosystem in Israel, intends to focus the Unicamel fund on early-stage investments in Israeli startups specializing in advanced technologies.

The creation of a new early-stage investment fund shows a revival of growing startups in Israel: in recent months, there has been an increase in smaller funding rounds, indicating strong early-stage activity. Investors are also gaining more confidence in young Israeli companies, as seen in the increase in the size of early-stage investments.

“Israeli startups founded in 2024 and 2025 are, in my opinion, excellent candidates for success,” Cegla said. “Economic theories have repeatedly shown that investments in times of crisis bring impressive results, especially in areas that are ahead of trends.”

Direct Round’s portfolio includes promising ventures such as BeeHero, Mitia, Nimble Beauty, Qbiq and Sightful. The fund also saw a successful exit from Minerva, which was acquired by Rapid 7 in 2023.

Notably, Direct Round has maintained its investment momentum even in difficult times, backing three new startups since the recent conflicts erupted.

Cegla expressed admiration for the resilience of Israeli startups that continue to innovate and deliver results despite global financial instability and regional tensions, noting that many of these companies demonstrate “great innovation capabilities” in the face of adversity.

The “Unicamel” branding for the new fund is more than just a catchy name. Cegla explained that it’s meant to replace the overused startup term “unicorn” (a private startup valued at $1 billion).

“The resilience of Israeli startups and entrepreneurs requires a new icon to represent them properly,” he said.

According to Cegla, the camel metaphor captures the perseverance of Israeli entrepreneurs, whom he praised for their “impressive ability to survive in difficult conditions, as well as their ability to orient themselves, improvise and navigate in unfamiliar surroundings.”