(January 24, 2018 / JNS) The Chinese e-commerce giant Alibaba on Wednesday completed a $30 million financing round in Nexar, an Israeli developer of a cloud-connected dashboard camera technology.
In the wake of Alibaba’s investment, the Israeli company is set to expand its mobile development department and business operations with the addition of 30 new employees.
By analyzing data collected from its network of vehicles, Nexar’s application assesses road conditions and delivers real-time warnings to drivers—who mount their cell phone as a dashboard camera—regarding potential hazards.
Alibaba’s investment in Nexar follows the Chinese conglomerate’s announcement last October that it will open a research and development (R&D) center in Israel. The move is part of the company’s plan to unveil a series of R&D centers worldwide, with an investment of $15 billion.
With the new R&D center, Alibaba joins e-commerce giants such as Amazon and eBay, among more than 300 international companies, that already maintain facilities in the Jewish state.