Lear Invests in Tel Aviv-Based Venture Capital Fund Maniv Mobility

New York-listed automotive seating and electrical systems manufacturer Lear Corporation has invested in an Israel-based venture capital fund managed by Tel Aviv-based venture capital fund Maniv Mobility, the former announced Monday.

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The financial details of the investment were not disclosed.

Maniv Mobility's portfolio and investing activities are mostly focused on Israeli start-up companies in the autonomous, ridesharing, and mobility fields, and the company invests in early-stage rounds.

Renault–Nissan–Mitsubishi, through its investment arm Alliance Ventures, invested in Maniv Mobility in May.

Maniv’s portfolio companies include car computer vision and automation technologies developer Nexar Ltd. and car data collection and monetization company Otonomo Technologies Ltd. The fund lists InMotion Ventures, the venture arm of automaker Jaguar Land Rover, and French auto parts maker Valeo, as limited partners.

Founded in Detroit in 1917 and headquartered in Southfield, Michigan, Lear Corp. employs around 169,000 people in 39 countries, according to the company’s statement. The investment is being made through Lear Innovation Ventures (LIV), the tech startup investment arm it launched in January.

In 2017, Lear acquired Tel Aviv-headquartered EXO Technologies Ltd., a developer of GPS technology for autonomous and connected car applications.