Subscribe to Print Edition | Mon., October 15, 2007 , | | Israel Time: 02:11 (EST+7) web haaretz.com   Back to Homepage Print Edition Diplomacy Defense Arts & Leisure Real Estate Jewish World National Advertising Magazine Week's End Business Opinion Rosner's Domain Anglo File Books Travel

del.icio.us Digg It!  new Goldman Sachs investing $100m in startup Mobileye By Eran Gabay and Raphael Fogel Another huge deal for Israeli high-tech: Only two days after the sale of Traiana for $247 million to British firm ICAP, U.S. investment bank Goldman Sachs is investing $100 million in the Israeli company Mobileye. This reflects a valuation of $600 million. Mobileye develops vision systems to prevent imminent accidents and assist drivers. These systems work as a "third eye" for the driver. Applications support the driver in performing several routine driving tasks, such as keeping distance between vehicles and dynamic cruise control, and provide timely warnings in dangerous situations. Mobileye develops the chips and algorithms for the systems. Advertisement The company was founded in 1999 by Professor Amnon Shashua and Ziv Aviram. Aviram is CEO, and Chairman Shashua is a professor of computer science at the Hebrew University, and is an expert in 3D vision and pattern recognition. Commenting on the investment, Shashua and Aviram said: "We believe the investment by Goldman Sachs will help us enhance our opportunities in our existing markets and reach new markets. We look forward to working with Goldman Sachs as we continue to develop effective, market-leading solutions for accident prevention and mitigation." Some of the new investment will be used for development, and the rest will go to investors in Mobileye. Investors in Mobileye include Lev Leviev, Udi Recanati, Colmobile (The Israeli importer of Hyundai, Mitsubishi and Mercedes vehicles), and Delek Motors (The importer of Mazda and Ford). Motorola Ventures also invested in the firm. Mobileye has raised about $65 million so far, and its revenues are estimated at $10 million a year. Mobileye's R&D center is located in Har Hotzvim in Jerusalem, and the company has sales and marketing offices in the United States, Cyprus and Japan. Its headquarters are in the Netherlands. It has some 185 employees worldwide. Its main product is its EyeQ vision system on a chip, which, among other things, monitors the location of other vehicles on the road so that the driver can avoid accidents if other drivers swerve from their lanes or get too close. EyeQ is marketed in two forms: for vehicle manufacturers as part of the production process, and Mobileye is producing such systems for General Motors, BMW, Honda and Volvo. The product can also be fitted on vehicles already on the road. Mobileye has been picked as a Top100 Innovator by U.S. Red Herring magazine. Bookmark to del.icio.us Public discontent Teachers are replacing port workers in the public's mind as the 'official, serial national strikers.' Bad for academia? A Haifa professor says funding from corporations gives rise to some ethical conundrums.

Today Online Bradley Burston: Ann Coulter's dream of a Jew-free America Responses: 295 Ministers approve renewal of dig at disputed Mugrabi Gate Responses: 82 Report: Abducted IDF soldiers transferred to Iran after capture Responses: 157 Rice arrives in region to help advance peace talks ahead of summit Responses: 125 Gideon Levy: Israeli journalists can go to Syria and Iraq, but not to the Gaza Strip Responses: 51 More Headlines 20:24 AG orders probe against PM over new corruption suspicions 19:15 Rice: Only focus on core issues can advance the peace process 16:16 Barak heads to United States to promote Israeli rocket defense 22:11 Rabin killer Amir asks to attend son's upcoming circumcision 14:51 Israel refuses entry to 6 Gazans in urgent need of medical care 22:42 London Jews celebrate U.K. Jewish history in Trafalgar Square rally 21:59 Islamic Movement leader urges fellow Ra'am-Ta'al MK to quit Knesset 17:57 Israeli historian wins German Book Trade's 2007 peace prize 22:52 Organizers call off T.A. peace concert after one in Jericho cancelled 13:33 Israel denies report that abducted IDF soldiers were turned over to Iran 17:54 Teachers, Treasury conclude meeting over strike without breakthrough 14:06 Lieberman seeks to encourage aliyah of Russian Jews from Canada 15:02 Mugrabi excavations delayed due to appeal by Arab minister Previous Editions Select Day 14 oct 12 oct 11 oct 10 oct 09 oct 08 oct 07 oct 05 oct 04 oct 03 oct 02 oct 01 oct

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