TTTech Auto raises $285 million from Aptiv and Audi

TTTech Auto raises $285 million from Aptiv and Audi

As the company expands globally, growth of the current capacities becomes pivotal.

TTTech Auto, a technology leader in safe software platforms for automated driving, headquartered in Vienna, Austria, with 1,200 employees working from over 10 locations across Europe, the U.S.A. and Asia announced its last funding round from Aptiv and Audi confirming its strong position amid a growing number of auto tech unicorns.

With Aptiv, another highly successful and important technology leader becomes part of TTTech Auto’s blue chip shareholder base alongside Audi, Samsung ElectronicsInfineon Technologies and the founder-led TTTech Group.

“Aptiv and TTTech Auto together have successfully deployed safety software systems in vehicles across various brands of the Volkswagen group since 2017.” Kevin Clark, President and CEO, Aptiv

“Audi and TTTech Auto have a long-standing strategic partnership in the field of developing automated driving technology. With the Volkswagen Group’s software company CARIAD, Audi is driving the introduction of that technology forward at full speed and TTTech Auto is an important partner along this path.” Markus Duesmann, CEO, AUDI AG.

Aptiv, Audi and TTTech Auto have a shared track record: The three companies worked together on Audi’s central driver assistance controller for automated driving. The fruitful collaboration on this platform was honored with the Automotive News PACE Award in 2019.

The company’s expansion plans include international growth with a strong focus on Asia. In China, TTTech Auto already operates the joint venture company Technomous together with SAIC Motor Corporation, the largest Chinese car manufacturer in this increasingly important automotive market.

The new funding will elevate the company’s flagship product, the safety software platform MotionWise, to support car manufacturers in shortening the development cycles for software defined cars. The safety platform will be delivered as an open, modular, standards-based platform. Specific tools will enable car manufacturers to accelerate the software development process dramatically, from the idea stage to series production, including feature updates over-the-air, post-sales. As of today, about two million vehicles already drive safely with MotionWise.

The TTTech Auto’s existing and new programs usually lasting 3 to 5 years are highly complex and include development and maintenance of the MotionWise safety software platform for numerous applications some of which involve artificial intelligence, and their orchestration on the system level – on the top of the class silicon including NVIDIAQualcomm, and Intel.

The latest funding will also strengthen development programs and the existing capacities including the regional centers in Novi Sad, Belgrade, Osijek, Banja Luka, and Izmir, where more than 500 employees work on development of the flagship product, its testing, development of specific tools, and cooperate with customers on its integration on their platforms.

TTTech Auto CEE (formerly known as RT-RK Automotive in Serbia, Croatia, and Bosnia and Herzegovina) sets itself ambitious targets to attract the best and brightest in software and safety engineering in a competitive labor market: In 2021, The company started the initiative ‘Employing 200 engineers of all seniorities’ and will continue to offer exciting opportunities for local talent to expand its profile as  one of the best automotive employers in the region.

TTTech Auto will continue its M&A strategy by acquiring complementary products, technologies, and services to meet the ever-growing safety needs of car manufacturers as the industry reaches new levels of automation on its path to autonomous driving and the complexity of software-driven car functions increases.

For more info see the press release.

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