Goldman Sachs to invest $100m in Israeli Mobileye
Posted on October 21, 2007 • By Miriam Schwab
Category: Business |
The deals involving Israeli companies keep getting better and better, this time with Goldman Sachs agreeing to invest $100m in Israeli company Mobileye at a valuation of $600m.
Mobileye develops systems aimed at preventing traffic accidents by detecting the distance between vehicles, and providing warnings in dangerous situations. Apparently their solution costs less and allows consolidation of multiple applications on a single platform. Mobileye is scheduled to provide its technology in six production platforms in 2007 (start of production) with BMW, GM and Volvo.
Mobileye’s R&D center is in Jerusalem’s Har Hotzvim hi-tech park, and they have been picked as a Top 100 Private Company in Europe, and Top 100 Innovator by Red Herring.
Did the people behind Mobileye gain their inspiration by watching their fellow Israelis drive? If so, at least something positive has come out of the Israeli driving methodology (honk, wave hands vigorously, put on blinker after changing lanes, etc.).
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