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Stock impact report

Ituran's Mobility Investment Bringg Completes $100 Million Series-E Investment Round

Ituran Location and Control Ltd. - Ordinary Shares (ITRN) 
Last ituran location and control ltd. - ordinary shares earnings: 3/4 06:30 am Check Earnings Report
Company Research Source: PR Newswire
AZOUR, Israel, June 16, 2021 /PRNewswire/ -- Ituran Location and Control Ltd. (NASDAQ: ITRN), today announced that its successful early-stage mobility technology holding, Bringg, completed a series-E investment round of $100 million. Following the round, Ituran's undiluted holdings are 17.2%. The round is being led by Insight Capital, a new investor, and included participation from several of its existing investors. The funding will be used to meet the increasing global customer and market demand by quickly scaling Bringg's platform through M&A and by growing its ecosystem of strategic and technology partners. The investment sets Bringg's valuation at $1 billion, making it the first and only unicorn in last-mile delivery and fulfillment cloud technology.Eyal Sheratzky, CEO of Ituran, commented, "Bringg is a company that Ituran seeded in 2014 and even after this latest funding round, we remain the largest shareholder of the company. Ituran is constantly looking to invest and grow compa Show less Read more
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