Israel is packed with mobility-tech startups. But none of them would ever get off the ground if they didn’t have the funding they needed. Fortunately the country is also full of venture-capital firms, eager to invest in the next big thing in the realm of transportation. And high on the list is Maniv Mobility, which recently announced the closing of a new $100-million fund.
Founded in 2014 by veteran investor Michael Granoff, Tel Aviv-based Maniv Mobility is focused purely on the smart-mobility sector that’s emerging as one of Israel’s fastest-growing fields.
Maniv currently lists 29 companies in its portfolio, including car-sharing platform Turo, radar innovator Arbe, autonomous-vehicle computer-vision firm Brodmann17, cybersecurity startup C2A, and connected-vehicle cloud service Otonomo (to name just a few of its notable investments).
The new fund was raised from a variety of sources, according to TechCrunch – including major global automakers like BMW, Hyundai, and the Renault-Nissan-Mitsubishi Alliance. Other investors include mega-supplier Lear, electronics giant LG, and German national railway company Deutsche Bahn.
“Specialization requires a market that is big enough and open enough to generate enough value to justify a dedicated fund. We believe the mobility market — with its multi-trillion dollar scale, significant inefficiencies and current openness to innovation — does just that,” Maniv partner Olaf Sakkers wrote in a recent article on Medium. “The decisions that industry incumbents are making today will become the basis of business case studies in the future given the current heady mix of opportunity and risk. We’re excited to be a part of this story and the opportunities it presents!”