TTTech Auto raised 285 million US dollars (250 million euros) from Aptiv PLC (NYSE: APTV) and Audi in its latest funding round. Aptiv is investing 228 million US dollars (200 million euros), while Audi is increasing its existing stake by 57 million US dollars (50 million euros). With this latest funding round and a valuation of more than 1 billion US dollars, TTTech Auto confirms its strong position amid a growing number of auto tech unicorns. The transaction is subject to regulatory approval and is expected to close within the next two months.
With Aptiv, another highly successful and important technology leader joins the existing shareholders Audi, Samsung Electronics, Infineon Technologies and TTTech Group. This underscores the company's strong position in the emerging software defined mobility space for automotive use and the value it brings to the market.
The investment will enable TTTech Auto to accelerate progress in three strategic areas: expanding its product portfolio for automotive manufacturers and its technology partners, expanding internationally in key regions, and extending its capabilities through strategic M&A and product investments.
"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," said Georg Kopetz, CEO of TTTech Auto. "With MotionWise, we are supporting this industry transformation as an independent company with the most advanced safety software platform on the market. This funding will strengthen our position as a leader in automotive safety software and significantly increase our global footprint."
Read more in our Press Release