TTTech spins $89m funding wheels

Sep 14, 2017 •

Samsung has made an $89m investment in TU Wien spinout TTTech, committing the cash through its newly established Samsung Automotive Innovation Fund.

TTTech, an Austria-based networked safety control systems developer spun out from TU Wien, raised €75m ($89m) from electronics producer Samsung today.

Samsung made the investment through its newly established $300m connected and autonomous car-focused vehicle, Samsung Automotive Innovation Fund. It marks the fund’s inaugural investment in a startup.

TTTech was spun out from TU Wien, which then operated under the international brand of Vienna University of Technology, in 1998. The spinout is working on networked safety control systems that help…

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