Southfield-based Lear Corp., a global automotive technology leader in seating and e-systems, has invested an undisclosed amount in an Israel-based venture capital fund managed by Maniv Mobility that is focused on advancing mobility technology.
The investment, which is being made through Lear Innovation Ventures (LIV), is Lear's second mobility investment in Israel. It will enable future collaboration and deepens Lear's involvement in the mobility technology ecosystem.
"Maniv is recognized as one of the premier investment funds focusing on the key trends in the automotive market, which makes it a great opportunity for LIV,” Lear Lear CTO John Absmeier said in a statement.
Maniv Mobility's portfolio and investing activities are largely focused on Israeli startup companies in the connected, autonomous, ridesharing and mobility sectors, as well as on investments in the U.S. and other markets.
This is Lear's second mobility investment in Israel, the first being its acquisition of EXO Technologies, an Israeli developer of high accuracy vehicle positioning technology.