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General Motors acquires battery software startup ALGOLiON

Green Car Congress

General Motors has acquired substantially all the assets of Israel-based battery software startup ALGOLiON Ltd. ALGOLiON employees, including the company’s founders, will remain based in Israel and join more than 850 employees at the GM Technical Center in Herzliya, Israel. for an undisclosed sum.

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Gentherm leads investment in electric battery cooling technology maker Carrar

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Gentherm, a developer of innovative thermal management technologies, is the lead investor in a seed round of financing in Carrar , an Israel-based technology developer of advanced thermal management systems for the electric mobility market. —Erez Freibach, Co-founder and CEO of Carrar.

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HARMAN acquiring Red Bend Software and Symphony Teleca for growth in connected vehicle space

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HARMAN International announced the acquisition of Israel-based Red Bend Software, a leading provider of software management technology for connected devices, and over-the-air (OTA) software and firmware upgrading services. By 2020, it is expected that more than 90% of vehicles on the road will be connected (Frost and Sullivan).

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Karamba Security raises $10M in new funding; round led by VinFast

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Israel-based Karamba Security , a leading developer of endpoint protection for connected devices, has secured $10 million in new funding in an extension to its B Round financing. —VinFast deputy CEO, Pham Thuy Linh.

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Israeli automotive cybersecurity company closes $30M Series B from Renault, Volvo Group, Hyundai, Nationwide

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Israel-based Upstream Security, a cybersecurity company targeting solutions for connected vehicles, closed a $30-million Series B funding round led by Renault Venture Capital and including Volvo Group Venture Capital, Hyundai, Hyundai AutoEver, Nationwide Ventures and others. —Yoav Levy, Upstream Security Co-founder and CEO.

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Daimler first automotive company to test UBQ’s climate-positive thermoplastic material in auto parts

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Daimler chose to partner with UBQ through Plug and Play’s Startup Autobahn, an innovation platform that connects emerging technologies to pilot opportunities with multinational corporations. Following further trials and examination, Daimler and UBQ will decide whether the material will be incorporated in vehicles to go to market.

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Intel completes tender offer for Mobileye; accelerating autonomous driving

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Intel expects the acquisition to accelerate innovation for the automotive industry and to position itself as a leading technology provider in the market for highly and fully autonomous vehicles. Intel estimates the vehicle systems, data and services market opportunity to be up to $70 billion by 2030.