Funding from Aptiv and existing investor Audi pushed the automated driving software provider’s valuation above $1bn.

TTTech Auto, an Austria-based provider of safety software for autonomous vehicles, received $285m in funding from car producer Audi and automotive technology producer Aptiv yesterday at a valuation exceeding $1bn.

Aptiv put in the lion’s share of the funding, contributing $228m, while Audi is strengthening its existing stake in the company with an additional $57m.

Spun out of Vienna University of Technology in 1998, TTTech develops safety hardware and software for self-driving cars.

The company plans to use the capital…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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