Aurora Labs, a Tel Aviv, Israel-based provider of self-healing software for connected cars, secured $23m in Series B funding.
The round was led by LG Technology Ventures, the investment arm of the LG Group, and Marius Nacht, co-founder of Check Point Software Technologies. Porsche SE, majority owner of the VW group which includes Volkswagen, Audi, Porsche, Skoda and SEAT among its brands, Toyota Tsusho, a member of Toyota Group, UL Ventures, the investment arm of UL, the global safety certification company and existing investors participated in the latest round.
The $23m is in addition to the $11.1m in funding raised previously from investors including Fraser McCombs Capital and MizMaa Ventures. This announcement is a follow-up to a recent Porsche SE announcement that noted their investment of $2.5m in Aurora Labs and that Aurora Labs’ technology is entering serial implementation within the next two years.
Founded in 2016 by Zohar Fox (CEO) and Ori Lederman (COO), Aurora Labs enables automotive companies, silicon vendors and enterprises to conduct remote software management, remote diagnostics and OTA updates. The company’s solutions, which have been granted dozens of patents, are being used by global automotive manufacturers covering a third of global car production, and device manufacturers to continuously collect actionable data and obtain a deep understanding of line-of-code software behavior. This level of understanding will guarantee devices are always-on with the ability to predict and fix software problems. In addition to keeping software safe and secure from faults and cybersecurity attacks, the solutions allow manufacturers to continuously add new features and functions extending the life of the device and enhancing user experiences. All of this is accomplished with AI and machine learning technologies.
The company is headquartered in Tel Aviv, Israel, with offices in Germany, North Macedonia and the US.