German auto manufacturer Audi and Dublin, Ireland-based automotive technology company Aptiv are investing a total of $285 million into TTTech Auto, an Austrian vehicle software company focusing on autonomous driving technology. With this significant and strategic investment, TTTech is valued at $1 billion, making the company the latest European unicorn. Aptiv joins Audi, which has an established partnership with TTTech, as well as GE Ventures, Samsung Electronics, and German chipmaker Infineon, as a major stakeholder in the software company. In this funding round, Aptiv is investing $228 million while Audi, a subsidiary of the Volkswagen Group, will contribute an additional $57 million.
TTTech Auto differs from other vehicle software companies in that it offers real-time networking platforms and safety controls that circulate mission-critical data throughout the vehicle to minimize safety risks. Since 2017, the three companies have collaborated on autonomous driving tech, including Audi’s central driver assistance controller for its automated driving systems. With an annual revenue of $15 billion, Aptiv is expanding its software and hardware offerings within the emerging autonomous vehicle industry. TTTech plans to use the new influx of capital to further develop its signature platform, MotionWise, which is currently used in at least 2 million vehicles, as well as explore its own acquisitions and the opportunity to expand into Asia.