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.
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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.
Jaguar Land Rover CEO Ralph Speth
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.
