Israel-based website creation software producer Wix has formed a corporate venture capital fund called Wix Capital.
The unit will back seed and early-stage digital design, e-commerce, artificial intelligence (AI) and automated system technology developers globally.
Founded in 2006, Wix provides a design and editing tool for websites built using HTML5. The company has more than 180 million users in 190 countries, offering free and premium products.
Wix has already invested more than $5.6m in technology startups including teamwork platform Spike, microfinance service provider Oriente, dropshipping business Modalyst and RestAR, which is working on a piece of 3D scanning and AI-powered product visualisation software.
Lior Shemesh, Wix’s chief financial officer who will oversee the vehicle’s investment activities, said: “Given Wix’s success, the Wix team understands building a world-class team while keeping a strong startup culture.
“Launching Wix Capital will help us stay on top of emerging trends in our fields and be a targeted effort of allocating strategic support to companies that are looking at us as an example of a strong growth company.”
