TEL AVIV, Israel--(BUSINESS WIRE)--SoftWheel is excited to announce that Mitsubishi Corporation (TYO:8058), Japan’s largest trading and investment company, has joined SoftWheel’s latest investment round. Daniel Barel, SoftWheel CEO, said, “We see Mitsubishi Corporation as a strategic investor and we are honored and humbled that a company such as Mitsubishi Corporation believes in us and in our technology.”
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 markets.