Aurora Labs ramps ‘self-healing’ software with $23M from LG Technology Ventures, Porsche SE, Toyota Tsusho – ProWellTech
The automotive market is grappling with increasingly complex software systems and, in turn, increased risks of glitches that can cause costly and dangerous outages and damage an automaker’s credibility.
Just look at the new cars, trucks and SUVs of today versus their counterparts from ten years ago. New vehicles rolling off assembly lines today contain tens of millions of lines of code, a statistic that continues to grow as automakers invest more in software.
This upward trend has created risks for car manufacturers; it also offered opportunities for nascent startups such as Aurora Labs, which has developed a platform that can detect software problems in cars and fix them on the fly. The company is now preparing to scale operations, including beyond the automotive sector, as software plays a central role in shared mobility, in cities and homes.
Aurora Labs has developed a platform designed to detect and predict problems and then solve them in real time. The platform also allows automakers to update software in vehicles wirelessly, a feature often referred to as over-the-air software updates that has been popularized by Tesla. The ability to conduct OTA allows automakers to make changes quickly and without requiring owners to visit a dealership for assistance.
Earlier this month, the Tel Aviv-based startup raised $ 23 million in a Series B round led jointly by LG’s investment arm LG Technology Ventures and Marius Nacht, co-founder of Check Point Software Technologies. . Porsche SE, majority owner of the VW group, Toyota Tsusho, a member of the Toyota group and risk arm of the global safety certification company UL, also attended. Porsche SE invested $ 2.5 million and Toyota Tsusho invested $ 1.5 million in Aurora Labs, according to the companies.
The funds will be used to double the size of Aurora Labs’ 30-person team to support series production with two of its automotive customers. Aurora Labs is working with a total of four global car manufacturers and an electronics company.
Although Aurora Labs’ main customer base is automotive, the company says it is also preparing to enter new markets such as connected homes and smart cities with the support of its investors who have products in a variety of industries, including Porsche SE. , Toyota Tsusho, LG Tech Ventures and UL Ventures.