Investment Into Israeli Car Technology Triples In Three Years

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The amount of investment that Israel is attracting in the car tech industry has tripled in the last three years, research shows. Israel’s automotive-tech sector raised $814 million in 2017, which is triple the amount it raised in 2015.

The startups companies attracting the largest funding rounds include Via, Valens, Moovit and Gett, the Israeli equivalent to Uber and Lyft. The most active investors include OurCrowd, Maniv Mobility, Magma Venture Partners and Aleph.

The car tech revolution started very promising in Israel, initially with Waze selling to Google for over $1 billion in 2013 and in March last year, Intel agreed to acquire the self-driving car technology powerhouse Mobileye, located in Jerusalem, for an enormous $15.3 billion. Read more at Arutz Sheva.

{Matzav.com}


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