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Aurora Labs Attracts Auto Manufacturers, Electronics Multinationals and Venture Capitalists in its $23 Million Series B Funding Round

Sep 22, 2020•almost 5 years ago

Amount Raised

$23 Million

Round Type

series b

Tel Aviv

Description

Aurora Labs, founded in 2016 by Zohar Fox (CEO) and Ori Lederman (COO), announced today that it has secured $23 million in Series B funding from top automotive manufacturers, electronics and technology corporations and venture capitalists. The round was jointly led by LG Technology Ventures, the investment arm of the LG Group, and Marius Nacht, co-founder of Check Point Software Technologies. Porsche SE, majority owner of the VW group which includes Volkswagen, Audi, Porsche, Skoda and SEAT among its brands, Toyota Tsusho, a member of Toyota Group, UL Ventures, the investment arm of UL, the global safety certification company and existing investors participated in the latest round. The Series B funding was substantially oversubscribed.

Company Information

Company

Aurora Labs

Location

Tel Aviv, Tel-Aviv District, Israel

About

Aurora Labs is pioneering the use of AI and Software Intelligence to solve the challenge of automotive software development. Aurora Labs brings AI-based Vehicle Software Intelligence to the entire lifecycle of a vehicle from software development to testing, integration, quality control, continuous certification and on-the-road over-the-air software updates. Aurora Labs focuses on the embedded systems that are key to the development of the software-defined vehicle and enables automotive manufacturers to more efficiently manage software costs and the resources required to develop and manage new vehicle features and mobility services. The Company’s 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. Aurora Labs, founded in 2016, has raised approximately $100m and has been granted 90 patents. The Company is headquartered in Tel Aviv, Israel, with offices in Germany, North Macedonia, the US, and Japan. www.auroralabs.com

Funding Insights

Based on industry data
Tech investment trends
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