50 Million Euros Investment Round for Industrial IoT and Autonomous Driving Robust Network Solutions
Today we announce a 50 million euro investment round involving two new key strategic partners: General Electric (GE Ventures) and Infineon Technologies AG. This funding is backed by the strong commitment of the existing shareholders, led by premium car maker AUDI AG. Our strong financial and industrial shareholders strengthen our position as a leader in the fast developing market for networking and software solutions in the Industrial Internet of Things (IoT) and autonomous driving vehicles. Thus, the proceeds will be used to accelerate growth with our safety certified solutions in our core markets as well as to enable new value propositions and global support for our customers in the Industrial IoT and autonomous driving car markets.
“Audi is pioneer of piloted driving. Since 2010, we have set one technical milestone after the other,” says Ulrich Hackenberg, Member of the Board of Management at AUDI AG for Technical Development. “The new Audi A8, which we plan to launch in 2017, will be the first model to make the transition from assisted to piloted driving. The capital increase in TTTech strengthens our strategic technological roadmap towards piloted driving in series production.”
“We understand the domain in which our customers operate, which is why we are intensely focused on bridging big iron, big data and software to drive new levels of productivity,” said Bernie Anger, General Manager at GE Intelligent Platforms. “With an impressive track record and strong competency in critical controls, TTTech’s deterministic networking and safety control technology have the potential to extend the reach of the Industrial Internet.”
“Infineon and TTTech see significant potential for synergies by bringing together TTTech’s leading safety control and robust networking technology with Infineon’s world-class microcontrollers. We are convinced of TTTech’s growth potential as its safety technologies play an important role in advanced automotive products such as the highly integrated platform control units on the way towards autonomous driving,” states Jochen Hanebeck, President Automotive Division at Infineon.
Read more about this story in the press release and learn about our solutions for the Industrial IoT as well as our work with Audi on an advanced driver assistance system platform.