Israeli startups show off autonomous driving, sensors tech at EcoMotion
TEL AVIV, Israel — Israeli automotive technology startups hoping to mirror the success of Mobileye showcased their innovations for venture capitalists, automakers and Tier 1 suppliers here at the annual EcoMotion Week conference.
Jerusalem chip and sensor company Mobileye has grown to a stock market valuation of $33 billion because of its advanced driver-assist and autonomous driving systems business.
Automotive and mobility technology is a fast-growing Israeli industry as entrepreneurs bring expertise gained from developing missile defense systems and other military technologies, along with the know-how acquired in related disciplines, to the sector.
There are more than 650 automotive and mobility tech startups in Israel, with 110 exhibiting at the conference, said Jennifer Schwarz, executive director for EcoMotion. More than 3,000 people attended Tuesday’s exhibition.
Israeli automotive technology startups have raised almost $200 million this year, according to IVC Data and Insights, an Israeli venture capital industry research organization. Investors poured more than $1 billion into Israeli automotive and mobility sector startups last year.
The companies at EcoMotion displayed a broad array of tech, much of it dealing with autonomous driving systems and electric vehicle components.
—Jerry Hirsch
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