Edward Mizrahi's Fund Invests in MOLET Furniture Company

The Adva Tzmicha investment fund, backed by businessman Edward Mizrahi, is investing NIS 500,000 in MOLET, a company that transforms used wooden pallets into furniture and designer products. This investment aligns with the fund's strategy to support businesses expanding into Israel's periphery, specifically the Western Negev and the North. The initial investment is expected to grow to NIS 1.5 million.

Mizrahi, a Jewish-Spanish businessman who immigrated to Israel, stated that his fund focuses on identifying promising small to medium-sized businesses with growth potential, rather than established sectors like Tel Aviv real estate or high-tech. He believes that the Northern and Western Negev regions will become significantly stronger economically in the next decade.

This marks the second investment for Adva Tzmicha, which launched a few months ago. Its first investment was in Mantra, a casual men's clothing brand, which is also planning expansion into peripheral areas.

MOLET specializes in upcycling discarded wooden pallets into furniture, products, and architectural elements. The company also runs workshops on design and creation using recycled wood for organizations, the general public, and specific programs like resilience training for reservists. Their clients and partners include major companies and institutions such as Google, Wix, Meta, Azrieli Group, and the Tel Aviv Municipality.

MOLET CEO Eli Saar explained that the company's concept extends beyond material recycling to social impact, fostering community and personal resilience by connecting people, knowledge, creativity, and materials. He added that the investment will enable MOLET to expand its model to new communities, create employment, and build activities with business, social, and environmental significance.