TTTech Auto, a joint venture between TTTech Computertechnik AG and Invest-AT GmbH, has recently raised investment from Aptiv, a leading global technology company delivering solutions for an autonomous world, and Audi AG, the German automotive manufacturing giant.
This joint venture includes state-of-the-art System on Chip technology and an expert team to create autonomous and connected driving technologies. The investment from Aptiv and Audi enables the development of these advanced technologies and strengthens the relationship between TTTech Auto and both companies.
First led by Invest AT GmbH in October 2018, the strategy of this joint venture is to create safe digital functionality and end to end security solutions for automated driving applications ranging from Advanced Driver Assistance Systems (ADAS) up to fully autonomous Level 5 cars. The core team comprises pioneers in safety critical hardware & software engineering and digital safety certification experts to blend performance & safety into one solution.
Collaboration between stakeholders enables fast access to future automotive operating systems followed by related components such as electronic control units (ECUs). Furthermore, with their decades long expertise in the terminal networking business of Vienna Stock Exchange listed company TTTech Computertechnik AG combined with the experience of Invest AT GmbH, customers will benefit from a comprehensive portfolio with optimized lifecycle costs for connected and automated mobility solutions enabling new business models.
TTTech Auto to raise a USD 285 million investment from Aptiv and Audi
TTTech Auto, a Vienna-based auto-tech supplier, is set to raise USD 285 million in investments from Aptiv, an automotive technology company and Audi, a German automaker. This fundraising round marks a major milestone for TTTech Auto and could help them expand into new markets.
In this article, we will discuss TTTech Auto’s background and the motivations behind this investment.
Overview of TTTech Auto
TTTech Auto is a subsidiary of TTTech Computertechnik AG, a pioneer in robust networking solutions and reliable real-time communications based in Vienna, Austria. Founded in 1998, TTTech has more than 1,000 customers worldwide. Their integrated solutions are used in medical technology and industrial automation products, as well as automotive applications like driver assistance systems and automated passenger cars.
TTTech Auto is focused on creating an agile platform for intelligent vehicles and transportation solutions, enabling companies to create better connected and autonomous driving services. In addition to its proprietary software solutions (e.g., Vector NAV, Time-Triggered Protocol Stack), TTTech Auto also works with partners from the automotive industry (like Bosch) to design open technologies that enable a secure integration of external components for the advancement of future mobility solutions.
Most recently, TTTech secured investments from Aptiv PLC and Audi Electronics Venture GmbH – totaling €50 million – to further develop their technologies related to automated driving systems. This investment will be used to build on the successful collaboration between these companies over the last ten years and continue research projects related to adaptive cruise control solutions, autonomous parking without drivers, self-learning algorithms based on artificial intelligence, among other areas of expertise.
Overview of Aptiv and Audi
Aptiv and Audi are two of the world’s leading automotive technology providers, with a long and successful history that dates back to the early 19th century. Aptiv is in the business of electrical systems, electronic components, fleet management, passenger services and mobility solutions for the automotive industry. Audi is a luxury vehicle manufacturer famous for its commitment to technological innovation in design, engineering and manufacture.
Aptiv has operations across Europe, Africa, Asia Pacific and North America; unique expertise in safety and connected-mobility technology; an efficient operating model based on global innovation strength; plus proprietary market access capabilities–all of which provide insight into automotive customer needs.
Audi is one of four brands within Volkswagen AG’s group portfolio. With over 15 million vehicles sold globally since its inception in 1910, it has continued to develop pioneering technology that supports both conventional and electric models (including plug-in hybrids) offered by Volkswagen AG across multiple divisions including SUV’s, Sedans and Sports cars respectively. Its commitment to delivering best-in-class performance behaviors inspired by emotion is embedded into every model they offer and they have become an industry leader in assisted driving features such as ‘Piloted Driving’ – their driver assistance system which allows vehicles to drive autonomously on highways up to speeds of 60km/h.
TTTech Auto, a Vienna-based software and hardware provider, recently announced it will be receiving a USD 285 million investment from Aptiv and Audi. This strategic investment will help fuel the development of TTTech Auto’s software platform, designed to enable the safe and reliable deployment of automated driving features.
This article will explore the investment details and implications for TTTech Auto and the automotive industry.
Amount of investment
TTTech Auto, a joint venture of TTTech Computertechnik AG (“TTTech”) and Austrian automotive electronics provider VISIOTALENT (the “Company”), has raised an investment from Aptiv and Audi Electronics Venture GmbH (“Audi”). The total amount of the investment is €50 million. Of that, Aptiv has invested €25 million and Audi €25 million.
The Company specializes in developing innovative software for automated driving and closed-loop car automation systems. The plan will use the financing to accelerate its strategy of providing advanced, reliable software platforms that enable safer and sustainable automated driving at all levels.
The Company’s founders expect this significant capital injection to provide them with the resources needed to continue developing their technology platform that enables safer and more efficient car automation by leveraging their deep understanding of safety critical system development, artificial intelligence, simulation technologies. Moreover, it will also allow them to increase collaborations in Europe with other leading automotive companies such as Audi and extend their footprint outside Europe thanks largely to Aptiv’s global presence in both traditional automotive and emerging mobility services markets.
The investment structure features two principal elements. First, Aptiv and Audi are providing capital to the joint venture, TTTech Auto, for the development and market launch of new solutions for automated driving. Second, in a separate transaction, TTTech will acquire certain closed-loop software functions from Aptiv that have been developed through their integrated safety offering.
This dual structure allows both companies to maximize the value of the underlying solutions while giving Aptiv and Audi flexibility to shape individual strategies according to their respective roadmap and priorities. For example, TTTech Auto can pursue a branded approach targeted towards mobility service providers. At the same time, rights over the acquired software and related technologies provide Aptiv with capabilities to further develop its Integrated Safety offering that can support all levels of automation and ADAS features.
The cash infusions provided by both companies are designed to strengthen the balance sheet of TTTech Auto and finance activities related to current projects and help finance future growth plans over the next two years.
TTTech Auto, an open-source technology provider for automated vehicles, has recently announced an investment from Aptiv and Audi. The strategic investment is part of a longer-term partnership to include joint development projects. The new funding adds to a series of investments over the past two years to ensure TTTech Auto meets the upcoming industry challenges for connecting, analyzing and controlling automated vehicle applications.
The timeline of this investment follows:
November 2017 – TTTech Auto secured € 6 million from Magna Steyr Flextronics as part of a joint venture agreement
May 2018 – Technologica Fund invested a further amount in TTTech Auto
November 2018 – Series A investment led by TU Wien’s Speed Invest, with additional backing from Semcon AB and other investors
April 2019 – Investment from Aptiv and Audi with the framework of strategic collaboration agreement between the three companies
This newly announced investment signals towards new endeavors ahead for TTtech Auto with their cutting edge technology. The funds have been earmarked for existing R&D projects such as their ongoing development into automated vehicles applications and expanding their Smart Machine Network software infrastructure.
Benefits of the Investment
TTTech Auto has recently announced a USD 285 million investment from Aptiv and Audi. This investment is seen as a major step towards leading the auto industry’s transformation. With the help of this investment, TTTech Auto plans to continue their growth and development in automotive technology. In addition, it will also bring various benefits to the companies behind this investment and the industry as a whole.
Let’s take a look at some of the potential benefits of this major investment.
TTTech Auto, a leader in autonomous driving systems, announced that it has raised an investment of $60 million from Aptiv and Audi. This strategic investment aims to help TTTech Auto develop and deploy its technology for autonomous driving use cases. The investment was closed with participation from existing shareholders b-to-v and KfW Capital.
The partnership between TTTech Auto, Aptiv and Audi aims to further develop next-generation safety standards within automated driving to optimize system architecture across vehicle platforms and reduce complexity while increasing robustness. By partnering with major players in the automotive industry, TTTech can fulfill demanding customer expectations and provide industry leading quality and reliability through consistent product assurance.
Furthermore, this involvement allows TTTech Auto access to necessary resources such as advanced automotive systems engineering capabilities which have already begun yielding safety innovations such as virtual sensors characterized by extremely low latency. Using computer architectures built on open standards provides TTTech with a bigger picture view, allowing for performance optimization between different components such as software, hardware, communications networks or mechanical setups within automated driving operations.
With such access to resources for innovative technologies advancements, TTTech can be at the forefront of open systems running automated processes within intelligent vehicles under complex real world conditions. This will enable safer vehicles which today are still far from being a reality but closer than ever before due to partnerships like these.
Aptiv and Audi
Aptiv and Audi have jointly invested in TTTech Auto, a subsidiary of the Vienna-based engineering firm TTTech. This latest move further solidifies Aptiv’s and Audi’s focus on developing autonomous vehicle technology. The investment marks Aptiv and Audi’s first joint venture with a technology provider outside of the Volkswagen Group—an alliance creates opportunities for increased collaboration and development of autonomous vehicle technologies, such as vehicular communication systems.
The investment from Aptiv and Audi will be used by TTTech Auto to expand its offerings in data-driven engineering, electric transportation, active safety, automated driving, end-to-end functional safety for electric vehicles, and open source development tools. This includes developing system-level engineering services to support autonomous vehicle development; electric powertrain design; advanced driver assistance systems (ADAS); augmented reality systems; data analytics services; and cloud platforms geared specifically toward the automotive industry. Additionally, the investment funds aim to help create globally accessible data stores of connected intelligence that can be used to accelerate research into autonomous vehicles.
This expanded pool of resources maximizes both companies’ efforts toward leading advancements in automated driving technologies and bolsters both companies efforts towards increased safety on our roads. Improved safety outcomes are within reach with more resources dedicated to connected vehicular communication systems through open source platforms such as Google’s Android Automotive OS platform powering next-generation vehicles.
In conclusion, the partnership between TTTech Auto, Aptiv and Audi marks a significant investment by the three major players in advancing and accelerating the development of automated driving and mobility technology.
TTTech Auto is well-positioned to complement its partners’ existing technologies and help them realize digitalized mobility that is safe, comfortable and accessible for everyone. Adding Aptiv’s software capabilities through its operating software business will expand TTTech Auto’s digital platform for automated driving applications.
This collaboration will foster innovation beyond conventional engineering approaches to radically accelerate the development of high-performance, secure and reliable systems for next-generation vehicles. Through this investment from Aptiv, Audi and other strategic investors, TTTech Auto is poised to lead in providing digital platforms that enable autonomous vehicles with connected services.