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Convas, led by entrepreneurs Yaron Evron and Danny Friedman, raised NIS 2.7 million as part of the company’s seed round. The fundraising was led by Yaron Evron and a number of angels, who together invested about NIS 2.7 million.
The company’s technologies enable the sharing of rich information in real time between infrastructures at intersections and crossings and vehicles and pedestrians, cyclists and scooter riders. In the future, the technology will be able to connect vehicles to vehicles and other vehicles and pedestrians, thus creating a safer, smarter and more efficient mobility environment.
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Convas is led by Danny Friedman, who serves as the company’s CEO and co-founder, and Veyron Evron, who serves as president, COO and co-founder. Evron was one of the founders of Moovit, which was sold to Intel for a billion dollars and has over 30 years of experience in the field of smart transportation.
HiFund from the Hicenter Group, is a venture capital investment corporation owned by the Haifa Economic Company, which deals with the promotion of technological start-up companies in the city of Haifa, and is part of the agenda of the city of Haifa for the development and promotion of the technological entrepreneurial ecosystem in the city. HiFund’s activity is part of the comprehensive activities of HiCenter, a center for business and technological entrepreneurship in Haifa, which provides start-up companies in the city with business assistance, fundraising assistance and even direct incentives in a variety of programs.
Lior Hanukah, CEO of HiCenter and HiFund: “We are very happy to assist Connvas in recruiting investors through the HiFund platform, which proves its effectiveness and strategic contribution to startups precisely at a time when it is difficult to recruit, as the market is currently experiencing. The success of the recruitment is no accident – Connvas carries with it a huge potential for developing and marketing smart solutions to the problems of traffic accidents in cities, and the experience of the entrepreneurs speaks for itself.”
“In recent months, we have connected the entrepreneurs with investors who wish to invest in Israeli technology companies and be part of the success of Israeli high-tech. We are particularly proud of the connection between the company and the city of Haifa, which is part of Hicenter’s vision for the promotion and development of high-tech in the city. The expertise and experience of the HiFund team, along with the knowledge, connections, and capabilities of HiCenter’s professional teams allow companies a strategic approach to venture capital investments and increase the company’s potential for success.”
Danny Perdiman, CEO and co-founder of Convas: “We at Convas are very happy about the successful collaboration with HiFund, and appreciate the ongoing effort both in the area of raising money, which helped the company close the round of fencing, but even more so for the ongoing activity to connect the company to the parties the relevant municipalities in order to introduce the company’s solutions to the transportation infrastructure of the city of Haifa. As a Haifa company, we see the city of Haifa as a central destination for our solutions in the very first stages”
Connvas’ technology will significantly reduce road accidents – according to studies in the world 40-60% of road accidents in cities happen at intersections and crossings. The technological solution of Connvas offers a connection to infrastructures such as crossings and traffic light controllers that allow receiving and providing information in real time along with the integration of advanced technologies such as AI that identifies objectives and situations in real time and V2X capabilities.
This combination makes it possible to manage the transportation environment in a much smarter way by identifying situations and influencing the relevant infrastructures in real time and the possibility of getting safer, smarter and more efficient crossings and intersections. The company has a collaboration with one of the five traffic light companies operating in Israel, for the purpose of implementing solutions to increase safety and enforcement at signalized intersections. As part of this collaboration, the company performed a successful experiment in several live nodes that demonstrated the company’s technology.
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