Porsche Invests In Israeli Auto Tech Firm Tactile Mobility
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Israeli automotive technology startup Tactile Mobility said on Tuesday it secured $9 million in funding from Porsche, Union Tech Ventures and previous investors.
Tactile Mobility said it plans to use the funds, which could grow to $14 million, to further develop its technology and data offerings and expand marketing operations.
Tactile Mobility develops software that uses a vehicle’s non-visual sensors, including wheel speed, wheel angle, RPM and gear position to help smart and autonomous vehicles “feel” vehicle-road dynamics and road conditions below their tires.
In addition, the company said it crowdsources data regarding vehicle-road dynamics from vehicles equipped with its software to create a representation of each vehicle’s characteristics that can help maximize vehicle longevity, and a road conditions and hazards map layer.
The company is collaborating with several manufacturers including Ford and Porsche as well as with municipalities and road authorities in the United States, Europe, and Asia.
Questions & Answers
Q.Which specific companies are involved in funding Tactile Mobility in this investment round?
Which specific companies are involved in funding Tactile Mobility in this investment round?
Tactile Mobility has secured funding from Porsche and Union Tech Ventures. The investment round also included contributions from the company's existing investors, supporting its continued development and expansion plans.
Q.What is the primary purpose for which Tactile Mobility intends to use the newly acquired funds?
What is the primary purpose for which Tactile Mobility intends to use the newly acquired funds?
The company plans to use the funding to further enhance its core technology and data offerings. Also, a portion of the investment will be allocated to expanding its marketing operations, aiding its growth strategy.
Q.How does Tactile Mobility's software gather information about vehicle-road dynamics and road conditions?
How does Tactile Mobility's software gather information about vehicle-road dynamics and road conditions?
The software uses a vehicle's non-visual sensors, such as wheel speed and RPM, to interpret vehicle-road dynamics. It also crowdsources data from equipped vehicles to create detailed maps of road conditions and hazards.
Q.With which other organisations, apart from Porsche, is Tactile Mobility currently collaborating?
With which other organisations, apart from Porsche, is Tactile Mobility currently collaborating?
Tactile Mobility is collaborating with several manufacturers, including Ford. They also work with various municipalities and road authorities, extending their partnerships across the United States, Europe, and Asia.
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