Skoda Expands Israeli Presence with Three Startup Collaborations

Czech automaker Škoda Auto a.s. is expanding its footprint in Israel. The company announced on Thursday collaborations with three Israel-based startups, Chakratec Ltd., Anagog Ltd., and UVeye Ltd., and stated it is already testing their technologies.

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In August 2017, Škoda announced a technology scouting outpost in Israel, with the intention of investing in local automotive and smart mobility startups, in partnership with Skoda's Israeli importer Champion Motors Ltd.

In May, Skoda announced collaborations with four Israeli startups, one of them being Anagog and in July, the company announced a $1.5 million investment in the startup. Thursday’s announcement expands the partnership with the Tel Aviv-based startup, which develops artificial intelligence technology that can track drivers and predict their needs based on data from their mobile phones.

Chakratec, founded in 2013, develops a kinetic battery device, which stores energy using a flywheel instead of relying on chemical compounds like in lithium-ion batteries. The company raised $6.4 million to date.

UVeye, founded in 2016, develops machine learning and computer vision technology for automatic external inspection of vehicles. The company raised $4.5 million to date.