Carteav raises $6.5 million
Carteav, an Israeli startup making golf carts autonomous, has closed a $6.5 million round of funding from Zohar Zisapel and Mobilion Ventures. Carteav will use this infusion of capital to expand its product development initiatives and deepen its presence in the US.
Founded in 2020, Carteav offers an end-to-end solution, minus insurance, that enables golf carts to drive autonomously in places such as resorts, golf courses, universities, retirement villages, and hotels. The startup also provides a comprehensive site management solution – including an advanced algorithm for smart fleet scheduling and smart fleet charging, a unique mapping system that learns the parameters of managed areas in under 24 hours and a reservation app with a feature-rich dashboard.
Carteav has run a successful ALSV pilot program in Israel as it prepares to bring its offerings to the US market.
“I am a keen investor in the automobile sector and once was a believer that it would take some time to bring a viable autonomous vehicle to market. Carteav is breaking down the barriers and is bringing a viable autonomous low speed vehicle (ALSV) to market much sooner than the industry expected. I am very pleased to be part of and invest in an innovative company with strong fundamental technical expertise like Carteav. Carteav took on the challenge of creating a safe and innovative solution for the autonomous, low-speed vehicle space. Carteav’s ability to accelerate the technology that powers these vehicles positions the company to fully disrupt the LSV sector with its ALSV solution. I look forward to helping the company progress further and continue to drive forward advancements.” – Zohar Zisapel.
“Carteav’s business is strong, as seen in the widespread interest in our ALSV offerings. We are receiving enthusiastic feedback from potential customers, and we are very optimistic about what 2023 holds for the company. This funding is significant and will enable us to continue to support and onboard the early adopters that are regularly approaching us. We look forward to bringing our vehicles to the US and provide the ‘wow factor’ to potential clients and properties.” – Avinoam Barak, CEO of Carteav.