Earlier this week, Intel bought Mobileye for $15.3 billion deal. The acquisition was said to combine the best-in-class tech from both companies, including Intel’s computing and connectivity expertise and Mobileye’s leading computer vision expertise to create automated driving solutions from the cloud through the network to the car. Intel predicted the acquisition to accelerate the autonomous driving industry – a sector that is estimated to provide Intel with a market opportunity of around $70 billion by 2030. The transaction extends Intel’s strategy to invest in data-intensive market opportunities that build on the company’s strengths in computing and connectivity from the cloud, through the network, to the device and autonomous driving is a fast-emerging opportunity.
The acquisition taught the world several things. First, Israel is the world leader in autonomous driving technology and, additionally, big money is moving into Israel to invest in CarTech. The Mobileye transaction is unique because instead of Mobileye being integrated into Intel, Intel’s Automated Driving Group (ADG) will be integrated into Mobileye. Intel’s automotive activity, which is concentrated in the ADG today, has a sizable number of employees and the group will form part of Mobileye and be headquartered in Israel.
Engie is Waze founder Uri Levine’s company project, a car diagnostics app and mechanic marketplace, which is launching in the UK. Argus Cyber Security is an independent automotive cyber security company and VocalZoom is described as “Siri for cars.”
Jon Medved, CEO and founder of OurCrowd, explains;
“The deal confirms Israel’s global leadership position in autonomous driving technologies. The deal will further strengthen the exceptionally close strategic relationship between Israel and Intel. In essence, Intel has doubled down on its “Israel inside” strategy. The deal will also increase attention and funding for the already burgeoning Israeli cohort of next generation autonomous driving technology startups, where 200+ are vying to become the next Mobileye. Funds such as Maniv mobility with 13 automotive startups and companies like VocalZoom, Argus, and Engie will be beneficiaries.”
Michael Granoff, who runs Israel’s only specific autonomous driving fund, Maniv Mobility, with 13 companies in its portfolio is also an OurCrowd CarTech expert.
Globes estimates there are over 80 Israeli companies queuing up to be the next big thing in CarTech and autonomous driving. Following the successful exit for Mobileye investors, everyone is going be on the hunt for emerging CarTech that will be acquired by a big player. In fact at the top of Globes list of candidates for a big exit, is Israel-based Argus.
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