Drive TLV

Yesterday, we traded a typical day at the office for "Camp Drive," welcoming 20 energetic new additions to our team. While it wasn’t the most productive day, it was certainly one of the most entertaining—for both the kids and the parents. Plus, it gave us a great excuse to order McDonald’s for the whole office. Camp Drive was the perfect way to enjoy one last out-of-the-ordinary day before the kids head back to school and daycare. And to the parents out there, hang in there—August will soon be over!

🥂 We are excited to announce that Clearly, a Fastlane Batch #8 alum, has successfully closed a $4.3 million seed round, with participation from our sister VC, Next Gear Ventures, and other leading investors. This funding marks a significant milestone in their journey. Clearly is not only tracking over 100 million trips globally, but also breaking new ground in decarbonizing supply chains in the transportation sector, tackling carbon emissions head-on. Congratulations to Danielle Walsh and the Clearly team on this impressive achievement. One step closer to Net Zero! Find out more here: https://lnkd.in/eb3evBRs

Summer of 2017. It had only been a few months since we launched Drive TLV and Next Gear Ventures when my friend Avi Hauben called me. He wanted to introduce me to two promising talents emerging from Gett. They were eager to start a company in the mobility sector and could greatly benefit from our knowledge and guidance. Off course we met. They didn't have an established company yet, not even a name for their project, but we instantly sensed their potential and knew we wanted to be part of it. And so, Avi, Kobi, and Dor "moved in" with us, and Autofleet became a reality. We are so pleased to have been the very first investor in the company, to follow on in every round, to house the growing company in our offices for the first two years until they relocated to their own office, to support them with strategic advice and mentorship, and finally to celebrate their acquisition by Element Fleet Management, which was announced last night. Super proud of their journey and excited to see what the future holds for them! Kobi Eisenberg Dor Shay Avi Hauben Autofleet Next Gear Ventures Drive TLV

Today we celebrate an impressive Exit! Autofleet, a leader in optimizing fleet management, was acquired for $110 million by Element Fleet Management, the world’s largest publicly traded automotive fleet management company. Since founders Kobi Eisenberg, Dor Shay, and Avi Hauben, first came to DriveTLV in 2017, their openness to learn and grow was undeniable. The Autofleet team spent nearly two years in the Drive TLV Offices, completing FastLane batch #2, joining our roadshows, working closely with our team, refining their vision, and turning it into a reality. By the time they had outgrown our offices, what they accomplished was nothing short of extraordinary. We’re proud to have been part of their journey alongside our sister VC, Next Gear Ventures, which recognized Autofleet's potential from day one, providing essential early funding and participating in each of the company’s fundraising rounds. Congratulations to Kobi, Dor, and to the entire Autofleet team for this amazing achievement! We can’t wait to see where your journey takes you next. https://lnkd.in/ersa67vN

It's not always easy to stay on top of the latest smart and sustainable mobility trends, but luckily, we've done it for you! As July is wrapping we're asking: 🛞 Which new surprises has the AV industry encountered? 🔧 How are auto repair shops going digital? ⚡ What’s driving the surge in used EV sales? Read the full blog here: https://lnkd.in/dam6WevR

Addionics, a Fastlane Alum, has just announced their impressive $39 million Series B funding! As demonstrated by Addionics' recent achievement, high-performance, cost-effective batteries are a key factor in the EV revolution’s success. Their Series B funding, led by GM Ventures and Deep Insight with participation from Next Gear Ventures and more, will enhance their expansion and manufacturing capabilities of their 3D Current Collectors. By improving efficiency and reducing costs, Addionics is poised to meet the growing demand for sustainable energy solutions. This announcement holds special significance for us, as it takes us back to the company's earliest days and inception here at Drive TLV, when they raised their pre-seed round led by NGV. Congratulations to Moshiel Biton and the team on this incredible achievement! Read the full article here: https://lnkd.in/dKMDhS-H

Can customers receive honest service assessments while dealerships enhance profitability and efficiency? A new partnership between UVeye, a Fastlane Alum’s, inspection technology and myKaarma's service management platform aims to balance both interests by integrating their systems. UVeye’s cutting-edge inspection technology ensures customers aren’t overcharged or sold unnecessary services by providing clear, comprehensive vehicle assessments. Now, customers can receive detailed reports on their vehicle's condition, enhancing trust and ensuring an informed service experience, while providing a great customer retention tool for dealerships. Congrats to the UVeye team on this great partnership!

How can a corporation find new and innovative products and solutions across the board? Ask its employees! This week, our corporate partner Ituran hosted a full-day hackathon for 60 of its employees at the Drive TLV offices. The event began with an inspiring keynote speech by Gil Sheratzki, Ituran’s Chief Business Development Officer, setting the stage for creativity with strong leadership support. This event was all about infusing innovation into the company by discovering new solutions and services throughout different departments in the company. What stood out was the opportunity for employees, who don't always have the platform to share their ideas, to come forward and develop innovative solutions. Drive TLV is always happy to host innovation-driven activities and collaborate with our partners. Kudos to David Gur, Head of Innovation Development at Ituran, and to Anat Elayani, VP of Human Resources at Ituran for orchestrating such a successful event.

From TLV to Texas to Hawaii, what’s new from the Drive TLV alumni this week? 🔐 Upstream Security has published their H1'2024 report, focusing on trends in mobility IoT and cybersecurity. Check out the report here: https://lnkd.in/dpfKfSQa 🏜 NoTraffic has received approval from the Texas Department of Transportation (TxDOT) Traffic Safety Division for their radar vehicle detection system (RVDS) for presence and advanced detection!  🌴 UVeye is launching their first install in Hawaii in the dealership of BMW of Honolulu!

FastLane Batch #9, welcome to the Drive TLV Alumni Family! From our opening ceremony in January, to our closing breakfast today, it has been such an incredible journey to work with these dedicated and talented entrepreneurs on their state-of-the-art technologies. In just 6 months, this group has showcased their innovations in the USA, Paris, Japan, and Amsterdam. They have participated in workshops, provided our team with knowledge sessions, hosted us in their offices, participated in countless 1-on-1 meetings with our team, and have created promising engagements with our corporate partners. Their hard work and commitment has taken their ventures to new heights. Congratulations to Bib batteries, Connected Insurance, Enervibe, SaiFlow, and SkillReal - Digital Twins for Industrial Manufacturing on your growth during these past 6 months. Get ready, we still have a long and promising road ahead of us.