TTTech Auto Raises $285 Million at over $1 Billion Valuation

February 8, 2022      3 Comment

TTTech Auto Vienna-based a leading automotive software company ( founded in 2018 provides top-notch solutions for the challenges of future vehicle generations) raised USD 285 million from Aptiv PLC and Audi in its latest funding round.  

With this latest funding round and a valuation of over USD 1 billion, TTTech Auto affirms its unbeatable position amid a growing number of auto tech unicorns. The transaction is subject to regulatory approval and is expected to be closed within the upcoming two months. 

Aptiv, a successful technology leader in its own right, will add to TTTech Auto’s blue-chip shareholder base alongside Audi, Samsung Electronics, Infineon Technologies, and the founder-led TTTech Group. This underscores the company’s vital position with its safety software platforms in the comprehensive software-defined mobility space for automotive use.

The investment will ensure that TTTech Auto will accelerate its development in three key sections: enlarging its product portfolio for automotive manufacturers and its technology partners, enlarging internationally in key regions, and enlarging its capacities via strategic mergers and acquisitions and product investments. 

Aptiv will be investing around $228 million in TTTech Auto, while Audi is investing nearly $57 million, the companies stated in an official statement. 

“Since 2017, Aptiv and TTTech together have successfully deployed safety-centric software solutions in automotive over numerous brands of the Volkswagen group,” stated Kevin Clark, President, and CEO, Aptiv about the investment.   

It was recently announced that Aptiv, Audi, and TTTech have worked together on Audi’s central driver assistance controller for automated driving, which had resulted in winning the Automotive News PACE Award in 2019.

TTTech Auto will use the new funding proceeds to further enhance its most important product, the safety software platform MotionWise and to support car manufacturers in shortening the development cycles for software-defined cars while assuring safety for all car functionalities. To date, Motionwise has been utilized on over two million vehicles for safe driving.

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