Tyrata, a US-based tire sensor and data management spinout from Duke University, closed a $4.5m series A round on Tuesday led by replacement tires and automotive parts supplier Dealer Tire.
The round also featured a range of other, undisclosed investors.
Tyrata is developing sensor technology to monitor the tread wear of tires in real time, alerting drivers and fleet management operators if the rubber has become too thin to drive safely. The sensors use carbon nanotubes to identify millimetre-scale changes in tread depth.
Research by Dealer Tire and US government agency National Highway Traffic Safety Administration suggests that 13% to 15% of cars have less than one-eighth of their original tread depth remaining – making the vehicles more likely to to be involved in an accident.
Tyrata’s technology was developed at Duke University’s Pratt School of Engineering and Nicholas School of the Environment, based on research spearheaded by Aaron Franklin, associate professor of electrical and computer engineering and chemistry.
Franklin collaborated with Joseph Andrews, a PhD student in electrical and computer engineering at Pratt School.
The series A round will allow Tyrata to develop an initial product and gear up for large-scale manufacturing.
Jesko von Windheim, chief executive of Tyrata, said: “Dealer Tire is well positioned in the industry to help accomplish Tyrata’s objective of making an impact across all major tire manufacturers.
“Our technology is a great fit with Dealer Tire’s commitment to tire safety across the industry and we are absolutely delighted to have Dealer Tire as our lead investor.
“Their investment allows Tyrata to hire a world-class management and engineering team to address a very large, unmet need for tread wear monitoring in the transportation industry.”
