Bosch completes investment round in AutoCore.ai
For the first time, Bosch Ventures is investing in a Chinese automotive middleware company: Robert Bosch Venture Capital, the corporate venture capital arm of the Bosch Group, is supporting AutoCore.ai and has closed an investment round to this end. This is led by Bosch Ventures and Boyuan Capital, supplemented by existing shareholder GL Ventures.
Innovation in the automotive sector is being driven more than ever by software. A key driver of this trend is the decoupling of hardware and software through a new generation of middleware, which is now entering volume production. Since its founding in 2018, startup AutoCore.ai has become an emerging provider of high-performance middleware for the automotive industry. The company already has a broad customer base and is experiencing strong growth.
Based on the Autocore.OS software platform, AutoCore.ai offers automotive industry customers software products such as AutoCore.COMM, a next-generation networking solution. The first AutoCore.ai software products have already received ISO 26262 product certification of the highest functional safety level ASIL D. AutoCore.ai has achieved strategic cooperation with many mainstream chipmakers, and its products are already being used by OEMs and Tier1 suppliers in volume production, Bosch says, without specifying customers and vehicle models or ADAS platforms.
AutoCore.ai is expected to benefit not only from the cash injection, but also strategically from Bosch’s extensive network and software-defined vehicle communities, according to the investor. “We believe Autocore.ai represents China’s outstanding innovative companies and can become a sought-after specialist in international automotive supply chains,” said Dr. Ingo Ramesohl, managing director of Bosch Ventures.
Robert Bosch Venture Capital changes name
Together with the investment, Robert Bosch Venture Capital also announced a standardization of its brand name. In the future, this will be uniformly “Bosch Ventures”. Apart from the unified brand, nothing will change: as one of Europe’s largest corporate investors, Bosch Ventures not only provides capital, but also offers start-ups access to specialist, industry and manufacturing expertise.
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