SONATUS RAISES $75 MILLION ROUND TO ACCELERATE VEHICLE SOFTWARE INNOVATION

Lead investor Foxconn funds Sonatus technology to support their EV platform; Sonatus ramps into volume production

SUNNYVALE, Calif., Dec. 7, 2022 /PRNewswire/ -- Sonatus, a leading automotive software company that is accelerating vehicle innovation towards software-defined vehicles, today announced it has raised $75 million in a second round of funding. Global technology company Hon Hai Technology Group ("Foxconn") (TWSE: 2317), the world's largest electronics manufacturer, led the fundraising round. Combined with the earlier Series A round, Sonatus has now raised over $110M USD from venture capital, strategic partners and customers.

Sonatus is focused on delivering foundational technologies and solution stacks that empower customers and partners to transition to software-defined vehicles (SDV) faster and support them to deliver their own differentiated solutions. By employing these key building blocks from Sonatus, automotive companies and their ecosystems can deploy innovations to market faster, at lower cost, with more reliability, and frequency than current approaches, which is critical in a competitive market.

"Foxconn's vision is expanding into the EV market where we intend to produce brand agnostic automotive solutions as we have successfully done in other industries from PCs to mobile phones," said Eric Yeh, Senior Director, Software Development Center, Foxconn. "Sonatus has an impressive track record of delivering in-vehicle and cloud software solutions into volume production, and is a strategic partner with the right synergy to provide seamless integration between automotive software and hardware."

Sonatus' software platform is in production in Hyundai, Kia, and Genesis vehicles, including multiple Genesis car and SUV models. It is also used in the Hyundai Ioniq 6, and others, and will be in millions of cars by 2023. Sonatus has grown its team significantly and has expanded its presence in France, Italy, Japan and China to focus on further growth and deployment of Sonatus products and solutions into additional applications, regions, partner projects and end customers.

"We are thrilled with the progress Sonatus has achieved in the past year and a half, meeting and exceeding our plans and growth targets and delivering on the milestones we committed to our partners and customers," said Jeffrey Chou, co-founder and CEO, Sonatus. "With this new fundraising round, we have the resources to significantly expand our growth and mission to deploy software-defined vehicle technologies into new markets and additional customers. The potential benefits of dynamic software in cars is only just beginning and Sonatus is ideally positioned to accelerate vehicle software innovation into the future."

At CES 2023, Sonatus will have a significant presence in the West Hall of the Las Vegas Convention Center to demonstrate a wide range of technologies and solutions including those in production with vehicles from Hyundai Motor Group brands Hyundai, Kia and Genesis. Additionally, it will demonstrate next-generation software solutions, built on advanced automotive gateway reference designs from semiconductor and Tier 1 suppliers, that will enable car manufacturers to digitally transform vehicle architectures. Sonatus works with major silicon manufacturers including NXP and Marvell, as well silicon collaboration initiatives including the Renesas R-car consortium and the SOAFEE initiative. Sonatus has been recognized by significant industry awards including 2022 PACE Awards and finalist nominations, 2022 CES Innovation Award, 2022 AutoTech Breakthrough Overall Connected Car Solution, and the 2022 Informa Tech Automotive Group Software Supplier of the Year.

Sonatus is accelerating vehicle software innovation and the transition towards software-defined vehicles. Our platforms and products serve as the key building blocks that allow automotive companies and their ecosystem to innovate faster and deliver continuous improvements in costs, capabilities, reliability, and user experience over the vehicle lifespan. Sonatus' award-winning software platform is in production vehicles from Hyundai, Kia and Genesis, and will be on the road in millions more vehicles in 2023. The company has raised more than $110 million USD with world-class automotive, technology, and venture investors including Foxconn, Hyundai Motor Group's Kia Corporation, LG Electronics, Marvell, SAIC Capital, Translink Capital, UMC Capital and Wanxiang Group Company. Sonatus is headquartered in Sunnyvale, CA, with offices in Paris, France and Seoul, Korea. For more information visit www.sonatus.com.

SOURCE Sonatus