Tactile Mobility Secures Strategic Investment from Nexteer Automotive and The Group Ventures to Support Growing Demand for Tactile Virtual Sensing and Data

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HAIFA, Israel, Jan. 7, 2021 /PRNewswire/ -- Tactile Mobility, the leading tactile virtual sensing and data company, announced today that it secured funding from Nexteer Automotive, a global leader in intuitive motion control, and The Group Ventures, an early stage North American venture firm. The investment acts as an extension to the previous $9 million round led by Porsche, and as a bridge to the next round of funding and brings total funding in the company to over $20M. Tactile Mobility plans to utilize the funds to support the rapidly growing demand for its sensing technology and data offerings, expand its go-to-market operations, and strengthen its traction among vehicle manufacturers, insurers, tire manufacturers and more across the US, Europe, and Asia.

The company's software collects first-order data using vehicles' built in, non-visual sensors including wheel speed, wheel angle, RPM, paddles position, gear position, and then analyzes it to yield actionable insights in real-time. These insights provide a clear-cut, highly-accurate description and analysis of the continually evolving state of vehicles, roads, and vehicle-road dynamics. The data insights are valuable across many sectors due to their availability, accuracy, and quality – from road planning and management, tracking tire conditions and ware, and even for insurance purposes.

"Having the support and vote of confidence from Nexteer – an automotive leader in intuitive motion control – and The Group Ventures – a VC that consistently invests in and promotes industry-leading companies – is sure to strengthen our position in the market, and we couldn't be more delighted" said Eitan Grosbard, VP of Business Development at Tactile Mobility. "We are seeing a burgeoning demand for our unique tactile sensing technology as well as our data which offers a true to life picture of the state of our road and mobility ecosystem in real-time. This funding will enable us to continue to harness the potential of that data with our partners - be they cities, municipalities, insurers, OEMs or Tier-1 suppliers."

"Nexteer's collaboration with Tactile Mobility is a perfect complement to our existing global software business model and focus on motion control software. We are looking forward to building-out even more of our software offerings that maximize over-the-air updates and connectivity for even safer, more reliable driving," said Robin Milavec, Senior Vice President, Executive Board Director, Chief Technology Officer (CTO) and Chief Strategy Officer (CSO), Nexteer Automotive. "Software plays an important, central role in the automotive industry and especially in steering features and a driver's connection to the road. This investment is yet another example of how we are executing our strategy for growth in alignment with key industry megatrends."

"Tactile Mobility fits perfectly into our investment portfolio of category defining ventures," said Sion Balass, Managing Partner of the Group Ventures. "Tactile Mobility is creating a new category of automotive virtual sensors that has the potential to have a massive impact on driving and road safety. Together with the strong commercialization traction Tactile Mobility already has in place, and the caliber of investors they've assembled, we have little doubt that Tactile Mobility will quickly cement themselves as an industry leader in the sensor industry. We are thrilled to have been given the opportunity to contribute and be part of what promises to be an exciting journey."  

Tactile Mobility has successfully executed partnerships with 10 road authorities and municipalities across the globe, including in the UK, Germany, Israel, Singapore, and Detroit as well as 6 vehicle manufacturers (including BMW and Porsche).

About Tactile Mobility:

Tactile Mobility is the world's leading tactile virtual sensing technology and data provider, enabling actionable insights for autonomous vehicles, municipalities, and fleet managers. Tactile Mobility's unique technology collects "first principle", crucial, anonymized real-time data generated from vehicles' non-visual, existing sensors and turns it into actionable insights on road attributes including grades, grip, and curvatures as well as vehicle attributes such as weight, tire parameters, and more. Insights provided by Tactile Mobility greatly enhance vehicle intelligence and ride safety, efficiency and experience as well as empower city officials with new and much higher value data to better conduct planned maintenance and detect hazards in near real-time. Tactile Mobility was co-founded in 2012 by Boaz Mizrachi, Yossi Shiri, and Alex Ackerman. The company is already working with multiple OEMs, road authorities, and municipalities and is based in Haifa, Israel with a presence in Europe, the US, and Asia.

About Nexteer Automotive:

Nexteer Automotive (HK 1316), a global leader in intuitive motion control, is a multi-billion-dollar global steering and driveline business delivering electric and hydraulic power steering systems, steering columns, driveline systems, as well as advanced driver assistance systems (ADAS) and automated driving enabling technologies for original equipment manufacturers (OEMs). The company has 27 manufacturing plants, four technical and software centers and 13 customer service centers strategically located in North and South America, Europe, Asia and Africa. The company serves more than 60 customers in every major region of the world including BMW, Fiat Chrysler, Ford, GM, PSA Groupe, Toyota and VW, as well as automakers in India and China. www.nexteer.com

About The Group Ventures:

The Group is an early stage North American venture firm investing in data driven platform tech companies with B2B and double-sided network effect business models poised to have a global impact. We are a Group of entrepreneurs, founders, and senior corporate executives with a track record of building value. We work with founders looking to reinvent industries and help them build value.

Tactile Mobility Media Contact:

Gavriella Weinreb 
Headline Media  
[email protected]  
+1 914 775 5135

SOURCE Tactile Mobility

Related Links

http://www.tactilemobility.com