Tactile Mobility Raises A Further $27 Million to Enhance the Missing Sense of Touch in Vehicles

HAIFA, Israel, Oct. 27, 2021 /PRNewswire/ -- Tactile Mobility, the leading tactile data and virtual sensing technology company, today announced it has raised $27 million as part of a Series C funding round led by Delek Motors, with strategic investment from Goodyear Ventures and Porsche Ventures, and supported by Union Group, The Group Ventures, Zvi Neta (AEV), Giora Ackerstein, and Doron Livnat. This brings Tactile Mobility's total funding to $47 million. The funds will be used to support the rapidly growing demand for its sensing technology and data offerings, expand into new segments among vehicle manufacturers, tier-1's, insurers, tire manufacturers and more, and deepen its offerings, including additional virtual sensors and expanding the company's cloud platform.

Tactile Mobility is enabling the next phase of mobility development by leveraging existing vehicle sensors and artificial intelligence (AI) to equip vehicles with the missing sense of "touch". By generating, collecting, and processing data from existing in-vehicle sensors about the vehicle, road, and surrounding environment, Tactile Mobility enables OEMs, Tier-1 suppliers, insurers, and city maintenance and planning departments to offer their customers innovative products, driving efficiency and performance as well as a safe driving experience.

"The automotive industry is at a critical juncture in its endeavor to safely introduce the next generation of vehicles," said Shahar Bin-Nun, CEO of Tactile Mobility. "We have the opportunity and potential to not only participate in, but also shape the future of the mobility industry. 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."

Tactile Mobility is a world leader in software-based tactile sensing and data solutions working with road authorities and municipalities across the globe including in the UK, Germany, Israel, Singapore, and US. Tactile also partners with leading vehicle manufacturers including BMW to provide their next generation vehicles with the sense of "touch" that will enable them to offer an enhanced driving experience. 

"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 and help to create safer and more efficient travel."

Tactile Mobility's solutions are comprised of its in-vehicle software only module residing 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, pedals position, gear position -- from vehicles' built-in non-visual sensors and 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 the vehicle, roads, and vehicle-road dynamics. Tactile Mobility's insights are beneficial across many sectors due to their availability, accuracy, and quality – from road planning and management, to tracking tire conditions and wear, and even for insurance purposes.

About Tactile Mobility:

Tactile Mobility enables the next phase of mobility development by leveraging existing vehicle sensors and artificial intelligence to equip vehicles with the missing sense of "touch." By generating, collecting, and processing data from existing in-vehicle sensors about the vehicle, road, and surrounding environment, Tactile Mobility enables OEMs, Tier-1 suppliers, insurers, and city maintenance and planning departments to offer their customers innovative products, driving efficiency and performance as well as a safe driving experience – depending on their specific objectives. Tactile Mobility was co-founded in 2012 by Boaz Mizrachi, Yossi Shiri and Alex Ackerman and is already working with several OEMs including BMW. The company is headquartered in Haifa, Israel.

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SOURCE Tactile Mobility