Israeli smart roads Valerann has won the sixth annual "The Pitch" startup competition held by the EY (Ernst & Young) accounting firm.
The finals of the competition, moderated by EY senior partner Noam Canetti, took place again this year in the framework of the Journey conference jointly held by EY and "Globes," which took place last Wednesday. Eight companies reached the finals. The winning company was selected by the audience and a four-judge panel composed of leading high-tech figures: Pitango Venture Capital managing partners Rami Beracha; Qualcomm Ventures managing director Merav Weinryb, responsible for investments in Israel; IBM VP developers community relations development manager Catherine Solazzo, and Saban Ventures managing partner Barak Pridor.
CTO Shahar Bahiri, executive Gabriel Jacobson, and chief business development Michael Dan Vardi founded Valerann in 2014. The enormous importance of developing smart transportation technologies has inspired innumerable companies. Valerann's part in this revolution focuses on a unique facet - the road. The company's special technology provides solutions for already existing needs with no current solution, while preparing the ground for rapid and safe development of smart transportation, with an emphasis on connected and autonomous vehicles.
Besides EY, partners in "The Pitch" competition include IBM Israel, ESOP-Excellence, Pitango, Poalim High-Tech, Amnon Gur, Qualcomm Ventures, and the Guangzhou Sino-Israel Biotech Investment Fund (GIBF). The competition has created quite a few success stories in the six years it had been held: six competitors in the competition have been acquired, and 38 of the semifinalists have raised a total of more than $300 million.
The top three finishers in the competition will participate in an international technology conference in Guangzhou, China, with all expenses paid. Valerann, the winning company, will receive $250,000 in initial financing from Qualcomm Ventures.
Published by Globes [online], Israel Business News - www.globes-online.com - on October 29, 2017
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