TTTech Auto, a prominent name in automotive technology, has successfully raised 285 million US dollars, equivalent to 250 million euros, in its latest funding round. This significant investment comes from Aptiv PLC and Audi, marking a major milestone for the company and highlighting the increasing value of software-defined mobility in the automotive industry. Aptiv is contributing a substantial 228 million US dollars (200 million euros), while Audi is reinforcing its commitment by increasing its stake with 57 million US dollars (50 million euros). This funding round not only propels TTTech Auto’s valuation to over 1 billion US dollars, solidifying its unicorn status, but also underscores its leadership in the competitive landscape of auto tech innovators. The transaction is pending regulatory approvals and is anticipated to be finalized within the next couple of months.
The inclusion of Aptiv, a recognized technology leader, alongside existing shareholders like Audi, Samsung Electronics, Infineon Technologies, and TTTech Group, demonstrates strong industry confidence in TTTech Auto. This collaboration emphasizes the company’s pivotal role in the rapidly evolving software-defined mobility sector and the substantial value it brings to the automotive market.
These investments are strategically aimed at accelerating TTTech Auto’s growth across key areas. A primary focus will be on expanding its product offerings for both automotive manufacturers and technology partners. Furthermore, the funding will fuel international expansion into critical regions, broadening the company’s global footprint. Finally, TTTech Auto plans to leverage these resources for strategic mergers and acquisitions (M&A) and product investments, further enhancing its capabilities and market position.
Georg Kopetz, CEO of TTTech Auto, emphasized the critical juncture the automotive industry is facing. “The coming years are crucial for the automotive industry as it transitions towards semi-autonomous driving and the software-defined vehicle,” he stated. “Our MotionWise platform is at the forefront of this transformation, providing the most advanced safety software platform available. This new funding will not only solidify our leadership in automotive safety software but also significantly expand our reach and impact on a global scale.”
For more detailed information, refer to the original press release.
