Israeli startup Neomatrix wins Shell Bright Energy Ideas Challenge in Tyre Technology.
An Israeli electro-optic sensor technology for gauging tyre pressure and wear and tear won the Shell Bright Energy Ideas Challenge, beating 218 mobility startups from all over the world focused on the subject of cars, motorization and vehicles.
British-Dutch energy giant Royal Dutch Shell awarded Neomatix, the developer of the sensor, a €25,000 cash prize and a €100,000 loan. Shell will also help the Israeli startup to improve its product and provide it access to industry experts for the future commercialization of its technology, which combines sensors and algorithms.
“Neomatix was selected together with other 13 companies to participate in the Texchange program for Israeli startups,” said Yoni Dolgin, sector manager specializing in mobility at the UK Israel Tech Hub. “This program helped Neomatix find out about Shell’s challenge and to get in contact with them.”
The UK Israel Tech Hub is part of the British Embassy in Tel Aviv, and its goal is to promote bilateral cooperation between English and Israeli technology, bringing several Israeli startups to the United Kingdom every year.
Neomatix’s sensor was selected by Shell because it allows the checking of tyre pressure without having to install anything on the vehicle or disrupt work routine. The sensors and the algorithms manage the tyres automatically: the systems scan every vehicle passing through the gates at which they are installed and then they upload and analyze the results – to provide users with business intelligence and insights they need for tyre maintenance or to take preventative action.