ClearMotion, Inc., a Boston area-based automotive technology company developing a digital chassis, raised $100m in Series C financing.
The round was led by clients advised by J.P. Morgan Asset Management, with participation from New Enterprise Associates (NEA), Qualcomm Ventures, World Innovation Lab (WiL), and Eileses Capital. In conjunction with the funding, Jonathan Ross, Managing Director at J.P. Morgan Asset Management, is joining ClearMotion’s Board of Directors.
The company has raised over $130m in total funding.
Led by Shakeel Avadhany, CEO and co-founder, ClearMotion is an automotive technology startup founded out of the Massachusetts Institute of Technology. Its digital chassis technology aims to replace traditional automotive shock absorbers with software-controlled actuators, which push and pull the wheels at high speed, based on proprietary software algorithms allowing cars to interpret and react to road conditions in real time.
FinSMEs
01/02/2017