A group of leading car manufacturers, suppliers, tech and transportation companies have joined a consortium of investors backing Tel Aviv, Israel-based Maniv for the closing of a mobility innovation-focused fund.
Maniv announced today that it has closed its second venture fund with $100 million in commitments from the likes of Alliance Ventures (the strategic investment arm of Renault-Nissan-Mitsubishi), Aptiv, BMW i Ventures, Hyundai Motor Group, LG Electronics, Shell Ventures, Lear Corp and Valeo.
Additional investors in the fund include Deutsche Bahn Digital Ventures, the VC arm of the German rail and logistics operator, Israeli car importer Carasso Motors and several unnamed individuals, family offices and institutional investors.
Maniv says it will continue to invest globally in early-stage startups accelerating the digitisation of transportation, spanning data and connectivity, digital and electric mobility platforms, autonomous vehicle technologies as well as 'novel business models that change how people and goods move'.
Current portfolio companies include Hailo Technologies, Nauto, Turo, Oryx Vision, Cognata, Phantom Auto, Intuition Robotics and Bipi.
"Maniv evolved organically out of a need to bridge between innovative tech ecosystems and the global automotive industry in order to enable safer, cleaner, more convenient, less expensive and more accessible mobility to all," said Michael Granoff, MP at Maniv.
"Our strategic network, unparalleled access and deep involvement in the growth and success of our portfolio companies means the most impactful mobility startups worldwide are choosing to work with Maniv," added Olaf Sakkers, a GP at the firm.