Amnon Shashua Credit Mobileye
One Zero, the new Israeli digital bank established by Israeli businessman Amnon Shashua previously called The First Digital Bank, is looking to raise as much as $100 million in a private placement, reported Globes. According to the report, Deutsche Bank is expected to lead the raise.
One Zero is still sitting at a $320 million valuation which it hit in February after a $62 million raise.
When One Zero won approval from the Bank of Israel a little more than one year ago, it was the first time in 43 years that a new bank was established in Israel. The decision was made after the bank completed the process of meeting the milestones set for it, and after the Supervisor certified the completion of the establishment process.
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More and more, banking and finance is going digital, or if you prefer virtual. This is not about cryptocurrencies, but they are related to the subject. This is more about how banking is being done almost exclusively online these days, and through mobile devices.
Forbes explains that online banks have emerged in the financial services space as alternatives to brick-and-mortar banks, and have introduced new ways of banking. Forbes also says that today in the U.S. three in four Americans (76%) have used their primary bank’s mobile app within the last year for daily banking tasks, according to Ipsos-Forbes Advisor U.S. Weekly Consumer Confidence Survey data from February 2021.
Amnon Shashua is an Israeli computer scientist and entrepreneur, and the co-founder and CEO of Mobileye, a company developing advanced driver assistance systems (ADAS) and autonomous vehicle solutions.
Born in Jerusalem, Israel, in 1960, Amnon Shashua received his bachelor’s degree in computer engineering from Tel Aviv University in 1985 and his master’s degree in computer engineering from the Weizmann Institute of Science in 1988. He received his doctorate in artificial intelligence and cognitive science from the Massachusetts Institute of Technology (MIT), USA, in 1993.
After receiving his doctorate, he worked as a postdoctoral researcher at the MIT Center for Biological and Computing Learning. Since 1996, he has been a professor in the Department of Computer Science and Engineering at the Hebrew University.
Amnon Shashua co-founded Mobileye with Ziv Aviram in 1999. Mobileye is a company that develops camera-based ADAS systems, and is currently supplying ADAS systems to major automobile manufacturers around the world. Shashua continues to serve as CEO of Mobileye even after it was acquired by Intel in 2014.
Shashua is also a renowned scholar in the fields of artificial intelligence and computer vision. He has contributed over 100 research papers in this field to international academic journals, and has received awards such as the Kaye Innovation Award in 2004 and the UAI Best Paper Award in 2008.
Amnon Shashua has greatly contributed to the development of autonomous vehicle technology. He has developed a camera-based ADAS system, greatly improving the safety of self-driving cars, and is also leading the development of technology for commercialization of self-driving cars.
As of 2023, Amnon Shashua’s personal wealth is estimated at approximately $1 billion.
