raises $63 Million in Series C Financing to bring AI to the Software-Defined Vehicle —
Summary
Aurora Labs, founded in 2016 by Zohar Fox (CEO) and Ori Lederman (COO), announced today that it has secured $63 million through a Series C financing round led by Moore Strategic Ventures (MSV). The companys 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. 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.Insight into automotive software behavior is crucial as more lines of code from a growing list of entities Tier 1s, open-source, and automakers themselves make the software-defined vehicle a reality. Aurora Labs AI-based Vehicle Software Intelligence offers significant economic benefits to the auto industry with a clear cost-effective value proposition, saving up to 98% of hardware and data transmission costs for software updates, and up to 30% in software engineering hours saving manufacturers billions of dollars on their bill of materials and data communications costs and enabling recurring revenue streams.Safe, quick, and reliable over-the-air update capability is fast becoming a minimum requirement to effectively compete in the increasingly software-focused auto landscape, says James McIntyre, Senior Managing Director and COO of MSV. The Companys products have been adopted on customer platforms around the world, and with a commitment to conform and meet ISO-26262/ASIL-D and ASPICE-L2, will be in vehicles in coming car models.