The automotive market is grappling with increasingly complex software systems, which in turn increases the risk of malfunctions that can cause costly and unsafe malfunctions and affect a car manufacturer's credibility.
Just look at today's new cars, trucks, and SUVs compared to what they were a decade ago. New vehicles coming off the assembly line today contain tens of millions of lines of code, a statistic that will continue to grow as automakers invest more in software.
This upward trend has created risks for automakers. It also opens up the opportunity for emerging startups like Aurora Labs to The company developed a platform that can identify problems with software in cars and fix them on the fly. The company is now preparing to accelerate operations beyond the automotive industry as software plays a central role in shared mobility, in cities and at home.
Aurora Labs has developed a platform that enables problems to be identified and predicted and problems to be resolved in real time. The platform also allows automakers to wirelessly update software in vehicles – a feature often referred to as wireless software updates, popularized by Tesla. The ability to perform OTAs enables automakers to make changes quickly without owners having to go to a dealer for service.
Earlier this month, the Tel Aviv-based startup raised $ 23 million in a Series B round jointly led by LG Technology Ventures, the LG Group's investment arm, and Marius Nacht, co-founder of Check Point Software Technologies. Porsche SE, majority shareholder of VW Group, Toyota Tsusho, member of Toyota Group and venture arm of global safety certification company UL, also took part. Porsche SE invested $ 2.5 million and Toyota Tsusho invested $ 1.5 million in Aurora Labs.
The funds will be used to double the size of Aurora Labs' 30-strong team and support series production with two of its automotive customers. Aurora Labs works with a total of four global automakers and one electronics company.
While Aurora Labs' main customer base is the automotive industry, the company is preparing with the support of its investors, who offer products from a variety of industries including Porsche SE, Toyota Tsusho, LG Tech Ventures and UL Ventures.