Continental Acquires Minority Stake In Israeli Start-Up Feelit

Continental has acquired a minority stake in the Industry 4.0 start-up Feelit, headquartered in Tel Aviv, Israel. Both companies have agreed not to disclose the amount of the holding. Feelit provides cutting-edge predictive maintenance solutions for various industrial equipment and machinery based on proprietary hardware sensors and dedicated algorithms. The start-up has developed a structural sensing technology that is up to 50 times more sensitive than current standard market applications.

Feelit uses printed, nanomaterial-based, fully integrated sensors and cloud analytics to enable live, remote feedback on structural and performance changes in equipment. The sensors can be integrated, for example, into battery cooling systems for electric vehicles to optimize battery life and range. Continental sees additional potential for remote condition monitoring and predictive maintenance applications for its industrial hoses for the food and beverage industry, for hydraulic and energy solutions complying with safety requirements, and for avoiding unplanned and costly downtimes in manufacturing.

Philip Nelles, member of Continental's Executive Board and responsible for the industry-focused business area ContiTech said, "The investment further paves our way toward digitalization and brings with it multiple strategic benefits. 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"

Founded in 2017, Feelit has developed a highly sensitive, flexible, printed nanomaterial sensor that can be attached to static and rotating machinery parts, including flat and rounded surfaces. This sensor measures strain in ultra-high resolution, as well as other parameters such as temperature, vibration and pressure.

Feelit's sensors can be retrofitted

Batteries in electric vehicles work most efficiently at temperatures of between 20 degree Celcius and 40 degree celcius. This temperature range extends battery life and range, which is why the batteries must be either cooled or heated, depending on the outside temperature. An external sensor can be retrofitted to hose line systems to measure the temperature of battery control systems using oil, coolant or refrigerant.

The investment has been initiated by Continental's dedicated corporate venture capital unit, which was established in 2018 with the aim of effectively tapping into innovation and capitalize on new opportunities faster and thus managing and leading the transformation in several industries.