Israel Active

Israel’s Innoviz Technologies (see previously) has won a $4 billion deal by one of the largest vehicle manufacturers in the world to become its direct LiDAR sensors supplier across multiple brands. The new Innoviz 360 sensors have improved resolution and 360-degree peripheral vision.

BBC Radio 4’s Sangita Myska featured Israel’s Via Transportation ride-sharing taxis on her “Positive Thinking” program about key innovators on a mission to change our world for the better. Via redefines urban transportation by matching multiple passengers travelling in the same direction.

Israel’s SolCold (see previously) is partnering Volkswagen to test its eco-friendly cooling technology and jointly develop a concept vehicle. At its demo site,  SoCold’s product reduced the temperature of a Volkswagen Polo by 12-14 °C (53.6-57.2 °F).

With the end of the fifth morbidity wave (the Omicron wave) Israeli economic activity has returned to the strong level before the COVID-19 crisis. Industrial production, Imports of production inputs and Services revenues all increased and job vacancies remain at a record high.

Israeli tech companies raised $5.6 billion in 212 deals in the first quarter of 2022 – slightly more than the $5.4 billion raised in the same quarter last year. There were also 39 exits (including 7 IPOs) that raised nearly $9 billion.

Israel’s BionicHIVE (see previously) has received funding from the new Amazon Industrial Innovation Fund, which invests in emerging technologies. Previously Elon Musk recommended BionicHIVE to his 42 million Twitter followers.

Over 50 countries participated in Tel Aviv’s 28th International Mediterranean Tourism Market. At the expo, Israel’s President Herzog declared, “Israel offers a truly unmatched experience of ancient holy sites, cities that never sleep, exquisite natural beauty, a mosaic of cultures, and an innovative society.”

Israeli-based Tnuva is investing $7.5 million in partnering Israeli biotech Pluristem Therapeutics. They have formed a joint company NewCo to create meat and dairy products from animal cells, using sustainable technology.

Israel’s largest supermarket chain Shufersal has partnered Israel’s Via Transportation to create an efficient digital distribution system. This is the first time that Via will move from smart (ride-sharing) transportation into the logistics space. It will help Shufersal reduce cost, fuel use and air pollution.

Leading US investment firm General Atlantic is opening a Tel Aviv office. General Atlantic manages some $84 billion of assets and has invested $750 million in eight Israeli tech companies since 2019. It says Israel “stands out as a hub of global entrepreneurship and digital transformation”.