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

The funds will enable Tactile Mobility to address the growing market demand for tactile sensing and data

Tactile Mobility, the leading tactile virtual sensing and data company, announced 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.

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“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.”

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“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.”

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