Tactile Mobility, a virtual sensing technology company based in Haifa, Israel, has raised $27 million as part of a Series C funding round. The round was led by Delek Motors, with strategic investments from Goodyear Ventures and Porsche Ventures, and supported by Union Group, The Group Ventures, Zvi Neta (AEV), Giora Ackerstein, and Doron Livnat.
“With this funding, Tactile Mobility will be able to bring its innovative solutions to more markets, integrating our suite of virtual sensors into vehicles in new regions, and enhancing entire cities worldwide with our unparalleled insights,” said Shahar Bin-Nun, CEO of the company.
As described in a recent press release, the funding will play a key role in expanding Tactile Mobility’s sensing technology and data offerings. This includes expansion into new segments and markets among OEMs, Tier 1 suppliers, insurers, and tire manufacturers, among others. Currently, Tactile Mobility is working with road authorities and municipalities in the UK, Germany, Israel, Singapore, and the United States. The company is also partnered with BMW, promising to provide its new vehicles with a sense of “touch” by leveraging existing sensors and artificial intelligence. According to Tactile Mobility, this will help BMW offer an enhanced driving experience in their future product lines.
“The automotive industry is at a critical juncture in its endeavor to safely introduce the next generation of vehicles,” Bin-Nun said. “We have the opportunity and potential to not only participate in, but also shape the future of the mobility industry.”
Tactile Mobility’s in-vehicle software-only module resides on one of the vehicle’s computers and its cloud-based system. The company’s software collects first-order data, including wheel speed, wheel angle, RPM, pedal position, and gear position, from built-in non-visual sensors and analyzes it to yield actionable insights in real-time. According to Tactile Mobility, these actionable insights accurately analyze the surroundings as they change around the vehicle.
“Connected and autonomous driving are key to the future of people and goods movement. For improved safety and efficiency of connected and autonomous driving, tire data is key,” said Abhijit Ganguly, managing director, Goodyear Ventures. “Tactile Mobility is at the forefront solving this need with their unique, software-only solution, and we look forward to working together to bring this technology to vehicles to create safer and more efficient travel.”
Tactile Mobility has received a total of $47 million in funding, including the funds mentioned in this announcement.