Audi and Aptiv PLC Invests $285 Million in Software Firm TTTech Auto

TTTech Auto, an industry-leading Austrian technology company that specializes in automotive safety software has raised $285 Mn from Audi and Aptiv PLC in the latest funding round. 

While Aptiv is currently investing around $228 Mn, Audi is increasing its current stake by $57 Mn. With an evaluation of over $1 billion and the latest funding round, TTTech Auto has asserted its dominance in a market wherein multiple auto tech unicorns are emerging. 

As of now, the transaction is awaiting regulatory approval and is likely to close in the next couple of months. 

Aptiv will join TTTech Auto’s stellar lineup of blue-chip shareholders which features Samsung Electronics, Audi, and Infineon Technologies. It is a testament to the company’s strong foothold driven by its safety software platforms within the emerging software mobility sphere for applications in the automotive sector. 

Kevin Clark, CEO, and President of Aptiv said that TTTech Auto and Aptiv have successfully implemented software systems in vehicles for multiple brands under the Volkswagen umbrella. He also said that the investment will provide an impetus to the company’s software strategy and also get Aptiv’s full-stack capabilities onboard. This will allow customers to democratize safety systems more rapidly at lower costs.

SEE ALSO: Elliot and Vista Edge Closer to Complete Acquisition of Citrix Systems

How does this investment help TTTech Auto?

The recent injection of capital will allow TTTech Auto to fuel the progress in three core areas. These include expanding new regions across the globe, widening its capabilities via product investments and mergers and acquisitions, and expanding its product portfolio. 

Expanding current product offerings and capabilities

TTTech Auto will use the latest funding to optimize its flagship product MotionWise. MotionWise is a safety software that enables automotive manufacturers to reduce their development cycle for software-powered vehicles. 

At present, around 2 million cars drive safely with MotionWise. The company is planning to deliver the software as a modular, open, and standards-based solution. 

TTTech Auto has no intention to slow down its M&A strategy by acquiring complementary services, technologies, and products. This is driven by the increasing safety requirements car manufacturers need to comply with as the automotive industry enters the automation era. 

Plans to increase global footprint

Over the course of the new few years, TTTech Auto is expected to create thousands of job opportunities in the global market. As the company eyes expanding its footprint, a lot of emphases will be on Asia. TTTech Auto will hire new resources for strategic product management, business development, and safety engineering in North America, Asia, and Europe. 

SEE ALSO: Australian Software Company Dovetail Raises $63 Million To Develop Researcher-based Tool

Karandeep V

Karandeep was born in Pune, Maharashtra, an upcoming metropolitan city in the Western region of India. While most members of his family are engineers, he had different ideas. He was more inclined toward exploring the non-technical aspects of a business, which is why he studied Bachelors of Business Administration at Symbiosis International University, Pune.  Having said that, his love for new and upcoming technologies remained intact, which is why he has written extensively about technology throughout his career. After a brief stint with a gaming company at the beginning of his career, he discovered that his love for writing was not temporary.  Being a tech geek, he always liked installing and playing around with new applications on his mobile devices and the home desktop. He was fascinated by how technology can simplify even the most mundane and complex tasks with just a few commands. He keeps a close eye on how businesses use different tools to streamline their operations to boost productivity and efficiency.  At ToolsMetric, he writes product reviews that cover the main features and specifications of different enterprise applications. The sheer amount of innovation and hard work that goes into building these tech solutions is one of the reasons why Karandeep loves reviewing these tools. Besides product reviews, he also writes interesting news articles and blogs that track the latest developments in the tech industry.  When he is not writing, you can find him rooted to his seat playing video games, watching movies, or supporting his favorite football team. Since his childhood, he has always loved to travel and explore new places. Traveling is a major part of his life due to a myriad of reasons such as experiencing new cultures, food, and traditions. His other hobbies include playing football, cooking, and running.  You can find him on LinkedIn here.

We will be happy to hear your thoughts

Leave a reply

ToolsMetric
Logo
Compare items
  • Total (0)
Compare
0