Maniv Mobility Mission to Israel Highlights Growing new Mobility Tech Sector

Nov 19, 2015, 12:08 ET from Maniv Mobility

TEL AVIV, Israel, Nov. 19, 2015 /PRNewswire/ -- Thirteen delegates today concluded a whirlwind tour of Israel's newest innovation sector, described as "new mobility tech," by the sponsor of the trip, Maniv Mobility.

"Marc Andreessen pointed out that software is eating the automotive industry, moving much of the value chain in mobility from the domain of Detroit to that of Silicon Valley," said Maniv Managing Director Michael Granoff.  "Historically when a wave of innovation catches on in California, Israel is not far behind. This visit vividly demonstrated that the mobility tech wave – effectively the digitalization of transportation -- has already arrived here in Israel."

The delegation represented five countries and a range of disciplines, including venture and hedge fund investors, multinational automotive manufacturers, transportation service companies and policy experts. Participants were introduced to a wide array of Israeli companies developing pioneering technologies that are transforming our vehicles and creating new modes of mobility. The range of presenters demonstrated an impressive breadth of Israeli innovation in this space.

Redbend CEO Yoram Salinger described how his company, which was purchased this year by the US-based Harman Technology, developed a mechanism for secure over-the-air software updates that allow carmakers like Tesla to add new functionality, including the latest AutoPilot update, without costly dealer visits. Yonah Lloyd, Chief Communications Officer and Senior Vice President of Mobileye, hosted the group at the company's Jerusalem headquarters and explained how a computer vision project at nearby Hebrew University turned into a multi-billion dollar publicly-traded automotive supplier. He also outlined the company's plans to play a central role in the coming age of self-driving cars.

Other presenting companies included Autotalks, a vehicle communications start-up; Nexar, which is using smartphone dash-cam video to monitor driving behavior; Storedot, which is adapting its smartphone fast-charge technology to enable electric vehicle recharging in as little as five minutes; Argus, a leader in automotive cyber-security; Valens, which can vastly reduce the weight, cost and complexity of cabling inside the vehicle; Engie, which helps consumers and car mechanics simplify auto service; FreightOS, which offers on-demand access to container shipping rates around the world; BrightWayVision which brings defense-grade vision technology to drivers and future autonomous cars; and General Motors which is the first global automaker with a full research center in Israel.

At dinners in Tel Aviv and Jerusalem, the group was joined by an array of Israeli entrepreneurs, academics, investors and government officials, and heard from Saul Singer, the co-author of "Start-up Nation."

Peter Shannon, of Palo Alto-based Firelake Capital said, "In the Valley we are seeing an explosion of creative innovation around mobility technology, so it was fascinating to see the same thing happening here in Israel. After a two-day immersion in what Israel has to offer, I am even more convinced that cross-pollination between like-minded innovators and investors in both regions can lead to exciting opportunities. The trip was extraordinarily eye-opening and very much worthwhile."

About Maniv Mobility
Maniv Mobility invests in innovative young companies in the New Mobility sector - including advanced vehicle systems, enabling technology for vehicle autonomy, business model innovation and more. Maniv's portfolio includes companies in Israel and the United States that share the goal of enabling shared, connected and autonomous transportation. (http://www.maniv.com)

CONTACT: Michael Granoff, 1.201.727.1411


SOURCE Maniv Mobility



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