Technation / Israel's Mobileye, Tesla Put Driverless Cars on Road

Reuters

Mobileye, Tesla put driverless cars on road

Israel’s Mobileye is providing the technology for the first semi-driverless cars made by Tesla that hit U.S. highways this week. The Model S’s auto-driver functions are based on the collision-prevention technology developed by the Israeli maker of advanced and is the most advanced driverless system yet developed. “The ... highway autopilot essentially is using a combination of the forward camera, forward radar, the sight ultrasonics and then the GPS navigation system ... r to do auto-steer on the highway,” Tesla founder Elon Musk explained this week. (Nadan Feldman)

StoreDot secure s$18m for electric-car battery tech

StoreDot, an Israeli startup that makes ultrafast charging batteries using bioorganic technology, said yesterday it had raised another $18 million to help fund a new electric vehicle business unit. The company raised $40 million just a year ago to refine its core FlashBattery technology, which it says will be able to recharge a smartphone in just 60 seconds. This time the money will go toward developing a prototype battery for electric cars, with the aim of creating what it called the “first-ever instantly charging car prototype” by 2020. It would cut the time for recharging a car from two to eight hours to just a few minutes, StoreDot claimed. Investors in the new round include Samsung Ventures, the venture-capital arm of the giant Korean company; Norma Investments, which is controlled by the Russian oligarch Roman Abramovich, and Moshe Hogeg’s Singulariteam VC fund. (Inbal Orpaz)

Eco Wave raises $2 million for wave-power electricity

Eco Wave Power, which has developed technology that harnessed the power of waves to generate electricity, said yesterday it had raised its first every financing with a $2-million round led by Pirveli Ventures. “Our goal is to finalize the commercialization of our wave energy conversion systems with the help of our global partnership,” company co-founders David Leb and Inna Braverman said in a statement. The round comes a month after the startup deployed a second-generation power station at Tel Aviv-Jaffa’s Jaffa Port and expects to have a commercial wave farm in place by the end of 2015 in Gibraltar. Eco Wave’s uniquely shaped buoys and state-of-the-art technology harvests the constant energy produced by waves, driving a hydraulic piston to deliver high kinetic pressure to an onshore generator that generates electricity. (TheMarker)