Vienna’s TTTech Auto has raised $285 million in new capital via new stakeholder, automotive technology supplier Aptiv at $228 million, while Audi increased its existing stake with a $57 million contribution. Through this funding round, Austria adds another unicorn to the table, with TTTech Auto now valued at over $1 billion. The fresh injection of capital will be used to expand TTTech Auto’s product portfolio, drive international expansion efforts, and give the green light to M&A activities.
Founded in 2018 by TTTech Group, Audi, Infineon, and Samsung, TTTech Auto’ provides software and hardware solutions for autonomous vehicles. The company’s flagship offer, MotionWise, is essentially the safety ‘brain’ of automated driving. With a strong focus on time to market, the platform-centric approach allows automakers to forgo the often slow, costly, and complex ‘closed loop’ system approach.
"The next few years will be critical for the entire industry in the transition from automation to semi-autonomous driving and the software-defined vehicle,” explains TTTech Auto CEO Georg Kopetz. “With MotionWise, we are supporting this industry transformation as an independent company with the most advanced safety software platform on the market.”
TTTech Auto’s 1,200 employees collaborate with a number of leading car manufacturers on their advanced driver assistance systems (ADAS) and autonomous driving programs, with MotionWise active in approximately two million vehicles globally.
On gaining a seat at the table, Aptiv CEO Kevin Clark commented, “Since 2017, Aptiv and TTTech Auto together have successfully deployed safety software systems in vehicles across various brands of the Volkswagen group. TTTech Auto’s expertise in providing end-to-end real-time behavior for safety-critical systems complements our software platform to accelerate development, integration, testing, and validation. This investment further advances our software strategy, and adds to Aptiv’s full-stack capabilities, enabling customers to democratise advanced safety systems faster and at a lower cost.”
If the “faster time to market” variable in the autonomous driving sector is ringing any bells, Sweden’s Annotell is also working to help carmakers shorten the production timeline for autonomous vehicles’ essential perception systems, and announced a $24 million Series A financing round just this morning.
Now, about those planned acquisitions TTTech Auto mentioned? 🤔