Mossad launches fund to invest in firms developing spy tech

JERUSALEM (AP) — Israel's Mossad is launching an investment fund for start-ups developing "groundbreaking" technologies that could be used by the spy agency.

The fund, named Libertad, will invest in companies innovating "cutting-edge technology," such as robotics, energy harvesting, encryption, personality profiling and text analysis. A promotional video published by the Mossad shows an agent employing a face-recognition contact lens to identify her targets.

Libertad's website says that it offers up to $568,000 "in equity-free capital for R&D of relevant, viable and groundbreaking projects."

Israel's Prime Minister's Office says in a statement announcing the fund's creation that in exchange for funding start-ups that "the Mossad will receive a license to use the technology developed, without imposing any restrictions on the IP developed, and without paying royalties."

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