Another deep dive into Israeli AI startup subsector: Automotive.
Israel’s automotive AI startup ecosystem serves as a blueprint model to the globe, largely attributable to the Mobileye story (IPO for $890 million and acquired by Intel for $15.3 billion). But the current AI automotive startup ecosystem demonstrates vibrant activity, mega-exits aside.
Here’s the top five highlights of the AI automotive startup ecosystem of Israel in 2019:
- There are 63 active automotive startups within the Israeli AI startup ecosystem which an average of 12 added annually over the last five year average.
- They’ve raised $927 million in cumulative funding, and nearly two thirds of the cumulative capital has flowed in over the last two years. There were 22 funding rounds in 2017 and 2018, amounting to $435 million and $200 million respectively.
- There were four AI automotive startup exits already, Mobileye, Streetsmart, Exo Technologies and Foresight Automotive, for over $890 million in combined proceeds.
- The most concentrated subsector by count of startups are: advanced driver assistance systems (ADAS) technologies (17) followed by in-car monitoring technologies (8). The top funded startup in each subsector are Innoviz Technologies ($82 million raised) and eyeSight Technologies ($45.9 million raised) respectively.
- The most frequent investors are Maniv Mobility, followed by NextGear, MizMaa and OurCrowd.
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