TTTech Auto, a leader in automotive safety software, has announced a significant funding round, raising 285 million US dollars, equivalent to 250 million euros. This substantial investment comes from prominent industry players Aptiv PLC and Audi, signaling strong confidence in TTTech Auto’s vision and technology. Aptiv is contributing 228 million US dollars (200 million euros), while Audi is increasing its stake with a 57 million US dollar (50 million euros) investment. This latest funding elevates TTTech Auto’s valuation to over 1 billion US dollars, firmly establishing it as a unicorn in the competitive auto tech landscape. The deal is awaiting regulatory approvals and is anticipated to finalize within the next two months.
The inclusion of Aptiv, a recognized technology leader, alongside existing shareholders like Audi, Samsung Electronics, Infineon Technologies, and TTTech Group, highlights TTTech Auto’s pivotal role in the rapidly evolving software-defined mobility sector. This investment underscores the market value and strategic importance of TTTech Auto’s offerings for the automotive industry.
According to TTTech Auto, these funds will be strategically deployed to accelerate growth in three key areas. Firstly, the company aims to expand its product portfolio, catering to the increasing demands of automotive manufacturers and technology partners. Secondly, international expansion into crucial regions is a priority, strengthening its global footprint. Lastly, TTTech Auto plans to enhance its capabilities through strategic mergers and acquisitions (M&A) and targeted product investments, ensuring they remain at the forefront of innovation.
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. He further added, “With our MotionWise platform, TTTech Auto is committed to supporting this transformation as an independent entity, offering the most advanced safety software platform available. This funding will solidify our leadership in automotive safety software and significantly broaden our global reach.”
For more detailed information, refer to the original Press Release on TTTech Auto’s website.
