SWEDEN - Volvo Backs Israeli Automotive Technology

Arno Froese

Swedish automotive manufacturer Volvo Cars announced investments in two Israeli start-ups, through its venture capital investment arm Volvo Cars Tech Fund.

Marking the fund’s first investments outside of the United States and Europe since it was established last year, Volvo will invest in Tel Aviv-headquartered companies UVeye and MDGo.

Both companies have participated in the Tel Aviv-based “DRIVE” innovation center for early-stage mobility companies, active since 2017 and sponsored by Volvo Cars and other leading automotive industry players.

MDGo’s machine learning technology combines real-time data from vehicle sensors after an accident with medical knowledge, delivering immediate predictions regarding the injuries suffered by those traveling in the vehicle.

Data from the accident and likely trauma is transmitted to emergency personnel via a cloud-based platform, enabling the deployment of appropriately skilled personnel and effective treatment once first responders arrive at the scene.

“MDGo’s technology aims to do something that is close to our hearts, which is saving lives,” said Volvo Cars Tech Fund CEO Zaki Fasihuddin.

Following the investment, Volvo Cars and Toyota Tsusho said they intend to use UVeye’s inspection systems at various sites internationally, including Volvo’s factories, dealerships and aftermarket, and Toyota’s used car centers and throughout its Japanese operations.

“This latest investment including leading automotive strategic partners is an important signal that we believe paves the way for UVeye to become the standard of automotive inspection and safety,” said UVeye CEO Amir Hever.

“We are delighted to have world-class companies in their respective sectors endorse our game-changing auto scanning solution.”

-www.jpost.com, 22 July 2019

Arno's commentary

Israel does it again! We notice that UVeye was founded in September of 2016, with 11 to 50 employees. The other company, MDGo, targets crucial information about accident casualties, passing it on to first responders and trauma units. The firm was founded in 2017, with again, only 11 to 50 employees. These are new companies, with new technology, which will greatly contribute toward safety in the motor vehicle industry and the medical sector. While there are innumerable other startup companies that are reported about throughout the world, it seems that Israeli companies are the ones that are on the winning side.

Here we are reminded of Exodus 31:3: “And I have filled him with the spirit of God, in wisdom, and in understanding, and in knowledge, and in all manner of workmanship.” Proverbs 8:12 adds: “I wisdom dwell with prudence, and find out knowledge of witty inventions.”

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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