Driverless Software Startup Silexica Completes Series B Round, Raises $18 Million
【Summary】In the automotive space, the startup’s clients range from leading automotive suppliers, such as Denso, to global car brands, including Toyota.
Autonomous driving platforms process massive amounts of data per second. This demanding process is complex to develop and enhance, without the right software. Another challenging aspect of automotive development is manual programming of complex systems requiring connectivity.
Sliexica, a startup that specializes in self-driving software and programming tools, aims to tackle such concerns by making software implementation in modern cars easier and less arduous. To support their business goals, the startup conducted a Series B funding round. Led by EQT Ventures Fund (EQT Ventures), Silexica was able to raise $18 million.
The amount raised is more than double, compared to the startup's previous Series A financing round, which resulted in $8 million of fresh funds. Conducted in 2016, that round was led by Merus Capital, which also participated in the startup's latest Series B round.
Series B Funding Round
Participants in the Series B round (in addition to Merus Capital) include the following: Paua Ventures, Seed Fond Aachen and DSA Invest. The last two participants were also active during the Series A round and initial Seed round. According to the startup, the funds will be used to boost software development and expansion programs. Silexica is currently based in Germany, with global branches in the US and Japan.
"This funding round will enable us to strengthen existing and upcoming SLX tools and solutions. In addition, it will see us develop an industry first, vendor-neutral, multi-application Simulation Platform to help OEMs and all members of the supply chain optimize and integrate software provided for complex systems such as autonomous vehicles," said Maximilian Odendahl, CEO of Silexica.
In the automotive space, the startup's clients range from leading automotive suppliers, such as Denso, to global car brands, including Toyota. Silexica is also active in other markets, including telecommunications (5G) and aerospace.
For those industries, the company works with OEMs and various partners, including Fujitsu and Huawei, on building infrastructure for connected networks. With experience in 5G technology, the startup is in a great position to help automakers and suppliers implement computing components that underpin connected features in cars.
SLX Programming Tools
Silexica's services are designed to help companies move away from traditional data processing models and automotive architectures. Over the years, platforms for vehicles have become more sophisticated, with numerous control units that address specific functions, such as automatic headlight illumination, windshield wipers and emergency breaking systems.
The solution several automotive businesses are looking into is replacing such outdated systems with multi-core processors. In application, the functionality of the components would be bundled and capable of handling various features simultaneously.
Sliexica has already helped a handful of companies in the auto industry move away from legacy software, in favor of multi-core platforms, using SLX, the startup's flagship programming software tool.
"We created SLX to support software professionals facing the biggest challenge in the industry – programming heterogeneous supercomputers. SLX is truly adding value to customers in delivering performance improvements and system insights on some of the most advanced computers being created," cited Odendahl in a press release.
Michael Cheng is a legal editor and technical writer with publications for Blackberry ISHN Magazine Houzz and Payment Week. He specializes in technology business and digesting hard data. Outside of work Michael likes to train for marathons spend time with his daughter and explore new places.
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