UL Ventures helps fuel mobility and automotive innovation with connected car technology investment
Aurora Labs, a UL Ventures portfolio company, helps the automotive industry keep connected car software secure from faults and cybersecurity attacks.
UL Ventures, announced that it has made an investment in Aurora Labs. The UL Ventures investment was part of a $23 million Series B funding round that also included LG Technology Ventures, Marius Nacht, Porsche SE and Toyota Tsusho.
To heightened consumer expectations, new global regulations require traceable and secure software updates for passenger cars, vans, trucks and buses. This includes requirements put in place by the World Forum for Harmonization of Vehicle Regulations (WP.29), a working party of the Sustainable Transport Division of the United Nations Economic Commission for Europe (UNECE), for Cybersecurity and Software Update of Motor Vehicles. The global adoption of the regulations will require auto manufacturers to have a deep understanding of software behavior in order to obtain the data and evidence required for certification. Aurora Labs’ technology supports this by allowing manufacturers to collect actionable data and obtain a deep understanding of line-of-code software behavior with the ability to predict and fix software problems – all key to helping ensure safety in dynamic systems, vehicle type approval and certification processes.
The Aurora Labs investment further signals UL Ventures’ commitment to the incubation of innovative and safety-related technologies that support advances in mobility and automotive. In addition to Aurora Labs, other UL Ventures portfolio companies include Metamoto, a developer of simulation software for autonomous vehicle system training and testing, Brodmann17, a developer of perception software for autonomous systems, and Voltaiq, the developer of a battery analytics software platform for battery manufacturers, automotive manufacturers and energy project developers.
