TEL AVIV, Israel–(BUSINESS WIRE)–SoftWheel is strengthening its position in the automotive sector through
partnerships with leading Tier1 and Tier2 automotive players. The
investment by and collaboration with Musashi Seimitsu (TYO:7220), a
global automotive Tier1 manufacturer, partly owned by Honda Motor
Company, will ensure the highest standards of manufacturing of
SoftWheel’s automotive systems and will support its successful market
Musashi’s investment is part of SoftWheel’s third round of investment,
which includes existing and new financial investors, as well as
additional automotive strategic partners. The current round represents a
market valuation of half a billion ILS for SoftWheel.
SoftWheel’s cutting-edge technology fuses the drivetrain, suspension,
e-motor, steering and brakes into the wheel. It therefore provides a
significant reduction in volume, weight, and energy consumption.
SoftWheel’s disruptive in-wheel technology is recognized as the enabler
of future vehicle platforms including EV, hybrid and autonomous vehicles.
Musashi is a global, multibillion dollar Japanese Tier1 company with 30
manufacturing sites worldwide and a strong innovative spirit that
specializes in the production of drivetrain and suspension systems.
“I am thrilled to embark on this collaboration with Musashi, which
brings strong engineering and manufacturing value to SoftWheel. Their
unique corporate culture and innovation spirit are a perfect match for
SoftWheel and we look forward to an exciting journey together to shape
the future of transportation,” says Daniel Barel, CEO of SoftWheel.
“We see great interest coming from automotive components manufacturers,
as well as OEMs who recognize and value our technology and revolutionary
solution. As a technology company, we are looking to partner with the
world’s best automotive components manufacturers, such as Musashi, to
bring our technology to market,” he adds.
Otsuka, CEO of Musashi, says, “SoftWheel brings a unique solution to
future automotive platforms and we are enthusiastic about the
opportunity to work with such an innovative team. Our technology is
poised to lead the future of automotive transformation and we look
forward to the opportunity to work together with SoftWheel to develop
and manufacture this solution for OEMs.”
This current investment round is being led by Rothschild Bank, which
advises SoftWheel on strategy, tactics, and transaction structures.
Musashi Seimitsu Industry Co., Ltd. is a global auto parts Tier1 company
for automobiles and motorcycles, whose headquarters is located in
Toyohashi, Japan. Its 30 manufacturing locations are spread across
Europe, North and South America, China, and South East Asia. Musashi
specializes in designing, development, and manufacturing of powertrain
products, including Differential Assemblies, Planetary Gear Assemblies,
Transmission Gears and Assemblies, and Reduction Gears for xEVs, which
are supplied to global major OEMs and Tier1s. Linkage and suspension
products are other strategic products of Musashi. Musashi is listed on
the first section of Tokyo Stock Exchange (TYO: 7220).
Established in 2011, SoftWheel is a technology company headquartered in
Tel Aviv, Israel.
SoftWheel develops cutting edge systems for the automotive industry,
enabling the fusion of the drivetrain, suspension, e-motor, steering,
and brakes into the vehicle’s wheel. Its innovative technology enables
significant reduction in space, weight, and energy consumption of
vehicle platforms for EV, hybrid, and autonomous vehicles.
SoftWheel is also active in the personal mobility sector, providing
in-wheel technology for wheelchair and bikes. SoftWheel’s system reduces
pain for wheelchair riders and increases their comfort, significantly
improving the daily riding experience.
SoftWheel is active in North America and Europe and is providing its
wheelchair technology to American veterans through its partnership with
Ki Mobility and to the general U.S. market through Numotion. As medical
devices, SoftWheel’s wheels, which are clinically proven to provide
benefits and are FDA and CE approved, are reimbursed in select global
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