Major global carmakers invest in $100m Israeli mobility fund

Investors include BMW, Hyundai and the Renault-Nissan-Mitsubishi alliance

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Major global car manufacturers, such as BMW, Hyundai and the Renault-Nissan-Mitsubishi alliance, have invested in a $100 million (£81m) Israel-based mobility fund.

Other investors in Maniv Mobility’s second venture fund include Carasso Motors, Deutsche Bahn Digital Ventures, LG Electronics, Shell Ventures and Valeo.

The company says it will continue to invest in leading start-ups accelerating the digitisation of transportation, spanning data and connectivity, digital and electric mobility platforms as well as autonomous technologies.

It has so far invested in 27 companies, including Arbe Robotics, Bipi, Cognata, Hailo Technologies, Intuition Robotics, Nauto, Oryx Vision, Otonomo, Phantom Auto, Revel Transit and Upstream Security.

Michael Granoff, Managing Partner at Maniv said: “Maniv evolved organically out of a need to bridge between innovative tech ecosystems and the global automotive industry in order to enable safer, cleaner, more convenient, less expensive and more accessible mobility to all.”