Israeli startup Venn, which develops apartments and shared spaces using an urban neighborhood model, has completed a Series A financing round, bringing the total amount raised to date to $40 million.
Investors include Pitango Venture Capital, Hamilton Lane, on behalf of the New York State Common Retirement Fund, and Bridges Israel.
Currently operating in Tel Aviv, New York and Berlin, Venn will use the investment to expand R&D capabilities and increase operations from three cities to many more in the United States and Europe.
The company says its goal is to bring Venn to millions of people in 100 cities by 2030.
Since its launch in Tel Aviv, Venn has generated local economic growth by backing 35 local businesses and supporting 590 neighborhood events and activities attended by 11,350 people. In 2018, Venn expanded to Friedrichshain, Berlin and Bushwick, N.Y.
