Treads, a Park City, UT-based AI-powered car maintenance subscription platform, raised $4.6m in seed funding.
The round was led by Mucker Capital with participation from investors including Kickstart Seed Fund, Peak Ventures, Royal Street Ventures, and Convoi Ventures.
The company intends to use the funds to support its expansion into 16 additional cities in the U.S., making it available in 34 cities by the end of 2023.
Led by CEO and Founder Zach Olson, Treads is an AI-powered car management subscription company that is designed to eliminate the hassle of car maintenance with delivery of services related to tires, alignments, oil changes, wiper blades, and auto insurance via a mobile app. The company uses AI to provide predictive maintenance updates and visual machine learning to determine when tires are repairable if damaged or when they need to be replaced. Customers scan their tires using the camera on their smartphone through the app and they will automatically receive tire information including size, tread depth, and condition, etc.
Customers can now have new tires delivered and installed at their home or work, in addition to brick-and-mortar service centers that are part of the Treads Service Network.
FinSMEs
02/11/2023