Jaguar Land Rover Tap Israeli Automotive Tech
The automaker’s venture arm invested in Maniv Mobility, an Israel-based venture capital fund focused on mobility
Jaguar Land Rover’s taps into Israeli automotive technology innovation. The automaker’s venture arm InMotion Ventures invested in Maniv Mobility, an Israel-based venture capital fund focused on mobility, the latter announced last week.
Maniv Mobility raised $40 million and plans to invest primarily in the seed and Series A stages. The fund’s current portfolio includes startups such as Israel-based car data company Otonomo, and computer vision startup Nexar.
Alongside InMotion, strategic investors in the fund included French auto parts vendor Valeo, and Jerusalem-based funding platform OurCrowd.
Michael Granoff, Maniv Mobility’s founder, was involved in now defunct Better Place, an Israeli electric cars company that filed for bankruptcy in 2013 after raising around $700 million.
“The true headline of the coming era in transportation is the switch from manual vehicles to automated ones. Automated vehicles will be electric – breaking oil’s stranglehold, and giving us cleaner air,” said Mr. Granoff in an announcement by the company.