Richard Branson Invests in Israel: GreenRoad Technologies gets $14.5 million to help reduce car accidents and gas costs

green road techIsrael based GreenRoad Technologies, formerly known as (Diagnostics Drive), develops innovative driver safety technologies that prevent risky driving before an accident occurs. The company has just completed a $14.5M round led by Virgin Green Fund and Benchmark Capital with participation from Balderton Capital, Benchmark’s UK extension.

richard bransonIn the official announcement, Sir Richard Branson, founding investor in Virgin Green Fund said:

“GreenRoad Technologies has created an innovative and market-leading product that can help to create a cleaner and safer environment… By deploying GreenRoad through their fleets, companies can play an important role in reducing fuel consumption, lowering harmful emissions and fostering safe driving habits. This in turn benefits a company’s bottom line, while also benefiting the community in which it operates.”

As part of the investment, Shai Weiss, Managing Partner of Virgin Green Fund, will join GreenRoad’s Board of Directors. Prior to Virgin Green Fund, Shai was with ntl:Telewest (now known as Virgin Media). Shai is no stranger to the Israeli VC industry. He also help set up the European office of Jerusalem Venture Partners,

Greenroad Tech’s solutions claim to:
* Reduce crashes by 54%
* Reduce at-fault crashes by 42%
* Reduce high risk driving behavior by 50%
* Decrease fuel costs by 7%

Stay tuned for additional coverage on this story….

Share and Enjoy:
  • Digg
  • Reddit
  • SphereIt
  • del.icio.us
  • Facebook
  • StumbleUpon
Thanks for visiting again. If you enjoyed this article, Get VC Cafe delivered by email or subscribe using your Feed Reader and original feed RSS

January 31, 2008 | View Comments
Filed Under GreenRoad Technologies, Virgin Green Fund, benchmark capital, clean tech

 

Comments

View Comments to “Richard Branson Invests in Israel: GreenRoad Technologies gets $14.5 million to help reduce car accidents and gas costs”

  1. Bitesize Monday: Israeli Start Up Headlines : Venture Capital Cafe on June 8th, 2009 1:08 pm

    [...] Ventures, almost reaching $40 million in venture funding to date, including previous rounds led by Richard Branson’s Virgin Green Fund .GreenRoad’s system is designed for both fleet and consumer [...]

  2. Bitesize Monday: BitBand, TuneWiki and GreenRoad : Venture Capital Cafe on February 23rd, 2010 12:01 am

    [...] flagship commercial service. To date, GreenRoad has raised $48 million, including this round (see previous coverage on VC Cafe). GreenRoad is led by CEO Dan Steere and has a headcount of 90. More on Globes and Techcrunch. [...]

Leave a Reply




blog comments powered by Disqus

  • Recent Comments

  • Recent Posts