Continental invests in industrial sensing start-up Feelit

Continental has acquired a minority stake in Israel-based start-up Feelit Technologies Ltd. The investment took place as part of a round of Series A Funding valued at US$7 million, however, the exact amount of Continental’s holding hasn’t been disclosed. Continental anticipates that this new relationship with Feelit will benefit several business areas.

Founded in 2017, Feelit provides predictive maintenance solutions for industrial equipment and machinery. The firm has developed a printed nanomaterial sensor that can be attached to flat and rounded surfaces on static and rotating machinery parts. This sensor measures strain in ultra-high resolution, as well as other parameters such as temperature, vibration and pressure.

These solutions are based upon proprietary hardware sensors and dedicated algorithms and, according to Continental, feature a structural sensing technology that’s up to 50 times more sensitive than current standard market applications. One potential application for these sensors involves their integration into the battery cooling systems of electric vehicles to optimise battery life and range. Continental also sees potential to add remote condition monitoring and predictive maintenance applications to the industrial hoses it supplies to the food and beverage industry, for hydraulic and energy solutions complying with safety requirements, and for avoiding unplanned and costly downtime in manufacturing.

‘Beyond rubber’ solutions

“The investment further paves our way toward digitalisation and brings with it multiple strategic benefits,” says Philip Nelles, Continental Executive Board member responsible for the ContiTech business area. “Sensor integration into both new and existing product lines supports our ongoing transformation toward smart and sustainable solutions beyond rubber. Products such as hoses will be turned into sensitive detectors and provide real-time information about their condition.”

“We are delighted to have won Continental as an early backer, partner and investor, providing us with operational and industrial expertise,” adds Dr Gady Konvalina, chief executive officer and co-founder of Feelit. “Together we can pilot and improve our innovative sensors and cloud analytics software in many industrial and automotive applications. Now, our focus is on further developing our sensing solutions as the technology-leading product for diverse applications.”

Direct access to new technologies & ideas

The investment was initiated by Continental’s dedicated corporate venture capital unit, which the company established in 2018 with the aim of effectively tapping into innovation and capitalising on new opportunities faster and thus managing and leading transformation across a range of industries. The venture capital unit invests risk capital in young technology companies and thus enables direct access to new technologies, business ideas and the start-up ecosystem.