Israeli AI vehicle software intelligence developer Aurora Labs announced today that it has completed a $63 million Series C financing round led by Moore Strategic Ventures (MSV) with the participation of existing investor Porsche Automobil Holding SE and Colmobil Corp. This latest round brings the total amount raised by Aurora Labs to $100 million.
Aurora Labs, founded in 2016 by CEO Zohar Fox and COO Ori Lederman, holds 90 patents and has 15 customer projects globally.
Aurora Labs’ AI-based vehicle software intelligence enables vehicle manufacturers, Tier-1 suppliers, silicon vendors and enterprises to develop, certify and diagnose software, and conduct over-the-air updates. The company’s solutions are being used by global automotive and device manufacturers to continuously collect actionable data and obtain a deep understanding of line-of-code software behavior.
This allows software development teams to streamline development, testing, integration, WP.29 compliance, continuous certification, and on-the-road, zero-downtime, over-the-air (OTA) updating. The solution also keeps software safe and secure from faults and cybersecurity attacks, while allowing manufacturers to continuously add new features and functions extending the life of the device and enhancing user experiences.
Fox said, "The amount of software being developed for, and deployed in, the vehicle is astronomical. For the industry to move forward and realize software-defined vehicles - sophisticated AI solutions are needed to enable continuous everything - continuous integration, deployment (CI/CD), testing, certification and updates. Aurora Labs’ solutions will save automotive companies time and money and will ultimately save lives as vehicles become electric and more autonomous."
Published by Globes, Israel business news - en.globes.co.il - on July 7, 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.