from the June 2014 issue

Mobileye unveils car that drives itself

Kandel: Israel can lead in transport energy alternatives

Mobileye produces and sells a camera-based system mounted on a vehicle windscreen that reads the road ahead and gives collision warnings, for example if the vehicle deviates from the lane in which it is travelling without the driver having signaled, or if it is too close to the vehicle head. It can also detect pedestrians in the vehicle's path.

The Mobileye IPO will be one of the largest on Wall Street by an Israeli company in recent years. Last June, the company sold a 25% stake in order to raise $400 million at a valuation of $1.5 billion. In 2007, Goldman Sachs invested $100 million in it. Among other investors in the company are BlackRock, Fidelity Management & Research Co., Wellington Management Co., Chinese investment firm Sailing Capital Management Co., and US company Rent-A-Car Enterprise Holdings, Inc.

Israeli investors in Mobileye include Colmobil and Leumi Partners.

Mobileye was founded in 1999 by Prof. Amnon Shashua, who is chairman and Chief Technology Officer, and Ziv Aviram, who is president and CEO. Its main R&D center is in Jerusalem. Its systems are incorporated in vehicles produced by several manufacturers, among them General Motors, BMW, and Ford.

The Israeli driving safety technology company last raised funds at a valuation of $1.5 billion.

Israeli driving safety technology company Mobileye has filed a prospectus with the US Securities and Exchange Commission (SEC) for an offering on Wall Street, according to a report in the "Wall Street Journal".

Reprinted from the Israel High-Tech & Investment Report June 2014

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