Lear Corp., a Tier 1 automotive supplier in Southfield, today announced it has invested in an Israel-based venture capital fund managed by Maniv Mobility, which is focused on advancing mobility technology. Terms of the investment were not disclosed.
The investment, which is being made through Lear Innovation Ventures, enables future collaboration and deepens Lear’s involvement in the mobility technology ecosystem, the supplier says.
Maniv Mobility’s portfolio and investing activities are largely focused on Israeli start-up companies in the connected, autonomous, ridesharing and mobility sectors, as well as on investments in the U.S. and other markets.
“Maniv is recognized as one of the premier investment funds focusing on the key trends in the automotive market, which makes it a great opportunity for Lear Innovation Ventures,” says John Absmeier, chief technology officer at Lear.
“This is an exciting time of transformation for the industry, and Israel is at the forefront of the flourishing auto tech sector. We look forward to this strategic partnership and the innovations that will come from both start-ups and established companies that are driving the future of mobility.”
Lear has developed other mobility partnerships with Israeli firms. In 2017, Lear acquired EXO Technologies, an Israeli developer of high accuracy vehicle positioning technology. The company offers ADAS and autonomous driving applications that is says increase accuracy, reliability, and functional safety.
Lear is one of the world’s leading suppliers of automotive seating systems and electrical systems, and its products can be found on more than 400 vehicle nameplates. The company has around 169,000 employees located in 39 countries.
Maniv Mobility is a venture capital fund that invests in early-stage startups focused on automotive connectivity and data, autonomous vehicle technologies such as sensors and software, and novel business models.