European Business
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS
No Result
View All Result
European Business
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS
No Result
View All Result
European Business
No Result
View All Result
Home < INDUSTRIES Automotive

Intelligent Automotive Software Platform Company Eatron Raises $11M in Series-A funding to accelerate its global growth

by Marie Weil
November 19, 2021
A A
Share on LinkedinShare on Twitter

Nov 18, 2021 – Warwick, UK – Eatron®, a fast-growing scale-up with its unique ‘intelligent automotive software’ platform for the edge and the cloud announced that it raised $11M in its Series-A round led by MMC Ventures with participation from Aster Capital and Vinfast.

Eatron has a long-standing collaboration in different projects with Vinfast to explore and accelerate deployment of the company’s software platform into Vinfast’s rapidly expanding range of electric cars. Eatron entered into a similar strategic partnership with the Hirschvogel Group from Germany in the summer of 2020 when Hirschvogel also invested $1.5M+.

Eatron, which is headquartered in the UK with a world-class R&D centre in Istanbul, has developed a unique software platform – spanning from the edge to the cloud – which is driving significant innovation in the continuous optimization of performance, efficiency and safety of software-defined electric vehicles.

Eatron’s innovative technology enables OEMs and Tier-1s to de-couple complex embedded automotive software from the underlying electronic hardware through abstraction and rapidly deploy such software for serial production. The company already has major program wins with OEMs which are going into production from Q1 2022.

Eatron’s platform currently offers highly differentiated software applications for battery management (BMS), intelligent motion control, and advanced driver assistance (ADAS) for serial production. Eatron’s unique modular platform approach increases supplier choice for OEMs and significantly reduces cost, risks and time to market. Each Eatron software application running on the edge is powered by AI and designed to have a cloud counterpart with analytics, offering OTA updates and continuous software improvements to achieve superior performance and reliability over the lifetime of the vehicles.

Part of the Series-A funding will be used to expand the platform with additional partnerships for third-party software modules and semiconductor & hardware component suppliers. The company already has a growing list of such partnerships with majors which it plans to announce in due course.

Because of its unique platform approach and highly differentiated technology, Eatron has seen strong demand for its offering with revenues increasing more than 500% during the past 12 months. Eatron is currently running several advanced development programs with leading semiconductor suppliers and Tier-1s and therefore continuously increasing its global network of supported automotive electronics and system suppliers.

The new investment will further accelerate the development and deployment of new embedded and cloud-based intelligent features as well as fuelling an ambitious global growth of Eatron development teams in the UK, Turkey, and China. As part of its global expansion Eatron will grow its sales teams in Germany, India and USA. This is expected to create more than 50 new jobs globally in the coming year in addition to the 50 jobs it created during the past 12 months.

Dr Umut Genc, co-founder and CEO at Eatron:

“Mobility and Automotive in particular, is in the middle of a dramatic transformation and as part of this change needs to become a software-driven industry. Intelligent automotive software platform, embedded at the edge and connected to the cloud, will play a critical role in this transformation. For Eatron, this is a platform and data play – where we make a big difference with a unique synthesis of functional safety, machine learning, advanced controls, connectivity and cloud analytics for production grade customisable automotive software components. This helps OEMs and Tier-1s to develop connected intelligent software-defined electric vehicles faster, better, and hence enables them to stay ahead of their competition”.

Mina, Investor at MMC Ventures:

“Everywhere you look today, all governments across the world are committing to driving incentives for increasing electric vehicles and autonomy on the roads over the next five years. Yet while some automotive OEMs have built and released capabilities, the majority are significantly behind. We have seen many software businesses building interesting algorithmic concepts to support these OEMs, but none have had the expertise to meet the regulatory, security and safety requirements for automotive production. Eatron is the exception. Its software has been built from the ground up to be automotive grade and has the potential to drive the battery and autonomy features in hundreds of thousands of vehicles in the coming years.”

Tags: < Invest

Related Industries

Automotive

BYD Brings eTruck Innovation to The Netherlands

September 21, 2023
Automotive

REVEL secures €115 million to boost its car subscription business in Spain

September 16, 2023
Automotive

Volvo Cars appoints new head of procurement and supply chain

September 14, 2023
Automotive

Hyundai-Kia’s Head of Battery and H2 Fuel Cell Development Chang Hwan Kim Elected as President of FISITA from ’25-’27

September 14, 2023
Automotive

Mobileye and Valeo Launch a Partnership for World-Class Imaging Radars

September 5, 2023
Automotive

XPENG Announces Entry Into the German Market

September 5, 2023

L’Oréal completes acquisition of Aesop

August 31, 2023

...

Sandoz completes acquisition of leading antifungal agent Mycamine® from Astellas, reinforcing leading global anti-infectives portfolio

August 29, 2023

...

Schneider Electric appoints Gwenaelle Avice-Huet as Executive Vice-President Europe Operations

September 8, 2023

...

Talking not Typing: Continental and Google Cloud Equip Cars with Generative Artificial Intelligence IAA MOBILITY 2023

September 5, 2023

...

Aramco and Stellantis collaboration indicates eFuel compatibility with European engine families

September 6, 2023

...

REVEL secures €115 million to boost its car subscription business in Spain

September 16, 2023

...

Amazon boosts European charging infrastructure planning with new technology

September 13, 2023

...

Stellantis Celebrates Opening of Its First Battery Technology Center in Italy

September 9, 2023

...

Hilton Expands Rotterdam Portfolio with Two New Hotels

September 21, 2023

...

BASF launches first biomass balance plastic additives

September 20, 2023

...

Asia Pacific Business Asia Pacific Business Asia Pacific Business

EUROPEAN BUSINESS is a premier source of corporate news, business information and insights across broad spectrum of industries in Europe and worldwide.  We are one of the members of the Business World Network.

RESOURCES

  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS

CONTACT US

EDITORIAL:     editor # european-biz.com

PARTNERSHIP:     partnership # european-biz.com

HUMAN RESOURCE:     hr # european-biz.com

* (replace # with @)

  • Official Site

Copyright © EUROPEAN-BIZ.COM All rights reserved.

No Result
View All Result
  • HOME
  • SUSTAINABILITY
  • INVEST
  • MARKET
  • PARTNERSHIP
  • INNOVATION
  • PEOPLE
  • INSIGHTS

Copyright © EUROPEAN-BIZ.COM All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist