July 9, 2019 / 11:09 AM / 15 days ago

Israel's Maniv Mobility raises $100 million for second venture fund

JERUSALEM (Reuters) - Israel’s Maniv Mobility said on Tuesday it closed its second venture fund with $100 million that includes commitments from 12 companies in the automotive and transportation sectors.

Among the investors in Maniv’s newest fund are Alliance Ventures, the strategic venture capital arm of Renault-Nissan-Mitsubishi, Aptiv, BMW i Ventures, Hyundai Motor Group, Lear Corp, LG Electronics, Shell Ventures and Valeo.

Other investors include Deutsche Bahn Digital Ventures, the venture arm of the German rail and logistics operator Deutsche Bahn, and Israeli car importer Carasso Motors.

Maniv said it would continue to invest in startups that focus on data and connectivity, digital and electric mobility platforms, autonomous and autonomous-enabling technologies as well as novel business models that change how people and goods move.

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

Reporting by Steven Scheer; Editing by Tova Cohen

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