Israel’s Maniv Mobility closes $40 million fund to back transportation startups

Maniv Mobility, an affiliate of Tel Aviv-based VC firm Maniv Investments, has announced the close of its $40 million fund to invest in transportation and mobility startups.

Limited partners in the fund include Jaguar Land Rover’s InMotion Ventures, French automotive supplier Valeo, and equity crowdfunding platform OurCrowd. It will back transportation and mobility startups from Israel and the US at the seed and Series A rounds. Maniv Mobility’s portfolio companies include Israeli companies like Autotalks and otonomo, the latter’s CEO has also joined the fund as a limited partner.

The shift to electric power vehicles and the eventual arrival of autonomous cars on a wider scale is providing a massive opening for VCs interested in transport, said Michael Granoff, founder of Maniv.

“We’re seeking out the companies that are creating technologies that will accelerate the arrival of our autonomous future, but that have sustainable businesses even if that future takes several years to materialize.”

Its investments will present an opportunity for “outsized returns to our investors”, he said.

“Some hugely promising businesses are being built in Israel, so expanding our reach here has been an important objective,” added Sebastian Peck, managing director of InMotion Ventures.

“Now that Israel is recognized as a world leader in this sector, there will increased global attention to Maniv’s portfolio companies, many of whom are already pioneers in emerging new technologies, ranging from automotive data to advanced sensors, simulation to robotics, and automotive security to inter-vehicle communication,” added Jon Medved, CEO of OurCrowd.

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