Aurora Labs, founded in 2016 by Zohar Fox (CEO) and Ori Lederman (COO), announced today that it has secured $63 million through a Series C financing round led by Moore Strategic Ventures (“MSV”). Also participating in the round was existing investor Porsche Automobil Holding SE (“Porsche SE”), majority owner of VW Group and Colmobil Corp, Israel’s leading automotive importer and distributor. Colmobil Corp is led by the Harlap family who were early investors in Mobileye, SolarEdge and Via, amongst others. This round brings the total investment in Aurora Labs to approximately $100 million. Aurora Labs holds 90 patents and has 15 customer projects globally.
Aurora Labs’ AI-based Vehicle Software Intelligence has reinvented how automotive companies, Tier-1 suppliers, silicon vendors and enterprises develop, certify and diagnose software, and conduct over-the-air updates. The company’s solutions are being used by global automotive and device manufacturers to continuously collect actionable data and obtain a deep understanding of line-of-code software behavior. This level of understanding helps the software development teams streamline the processes of development, testing, integration, WP.29 compliance, continuous certification, and on-the-road, zero-downtime, over-the-air (OTA) updating. The solution also keeps software safe and secure from faults and cybersecurity attacks, while allowing manufacturers to continuously add new features and functions extending the life of the device and enhancing user experiences.
Insight into automotive software behavior is crucial as more lines of code from a growing list of entities – Tier 1s, open-source, and automakers themselves – make the software-defined vehicle a reality. Aurora Labs’ AI-based Vehicle Software Intelligence offers significant economic benefits to the auto industry with a clear cost-effective value proposition, saving up to 98% of hardware and data transmission costs for software updates, and up to 30% in software engineering hours saving manufacturers billions of dollars on their bill of materials and data communications costs and enabling recurring revenue streams.