3M New Ventures, the corporate venturing unit of the eponymous US-based industrial group, is investing an undisclosed amount in its first deal in Israel.
3M will also be collaborating with VocalZoom, a three-year-old maker of speech enhancement technology based in Israel.
Stefan Gabriel, president of Germany-based 3M New Ventures, said: “The investment in VocalZoom will help us to complement our existing technology in this field, and to collaboratively develop new products for our OEM customers.”
Yechiel Kurtz, chairman of VocalZoom, added: “3M’s investment and collaboration provides us with new and exciting opportunities, such as integration of our sub-system into 3M’s display and touch technology as well as a broad range of additional applications.”
Nir Leshem, managing director of 3M Israel, said: “Israel is one of the most vibrant technical and entrepreneurial regions in the world and there are plenty of opportunities for 3M. VocalZoom is our very first investment and we look forward to other investments in Israeli high tech startups.”