EIB provides TTTech Auto with €30m to support automated driving platform
The European Investment Bank is providing Vienna-based TTTech Auto - a software company specialising in the development of a safety software platform for advanced driver assistance systems and automated driving - with €30 million of funding for further growth.
The funds will help TTTech Auto grow its global footprint based on technological advances, including the further development of its safety software platform MotionWise and the potential introduction of additional software products. MotionWise is a software platform that supports real-time control applications and acts as the safety mastermind for automated driving. Within a vehicle architecture, it makes it possible to handle the high complexity of such systems.
The EIB loan will support the diversification of the company's financial resources by integrating public funding into the overall financing structure.
