TTTech, a Vienna, Austria-based provider of solutions for networking and safety controls, raised €50m in funding.
Backers included key strategic partners General Electric (GE Ventures) and Infineon Technologies AG and existing shareholders, led by car maker AUDI AG.
The company intends to use the funds to accelerate growth with safety certified solutions in core markets as well as to enable new value propositions and global support for customers in the Industrial IoT and autonomous driving car markets.
Co-founded by Georg Kopetz and Stefan Poledna, TTTech provides products that improve networked computer control systems by using advanced safety and real-time technology. The company’s certified hardware and software solutions based on Deterministic Ethernet are deployed and proven in demanding production programs in the automotive, aerospace, off-highway and energy industries. These include platform solutions for applications ranging from the Boeing 787 and the new NASA Orion spacecraft to various car models of Volkswagen Group.
TTTech employs approximately 400 highly qualified professionals and operates offices in 10 countries in Europe, North America and Asia.