Aurora Labs has raised $8.4 million in a Series A round of financing led by Fraser McCombs Capital. Previous investor MizMaa Ventures also joined the round. The Tel Aviv-based company, which just came out of stealth a few months ago
As the automotive industry becomes increasingly reliant on software, the risk of glitches impacting the operation of vehicles grows. Aurora Labs developed a platform designed to detect (and even predict) problems and then fix any issues on the fly. It can also provide over-the-air software updates to allow automakers the ability to make swift changes to electronic control unit software.
The company claims to have locked in three unnamed automakers as customers and pilots are underway. It plans to use the additional funds it expands its presence beyond its new offices in Munich, Germany, and Tel Aviv headquarters.
Source: Press Release