RemotiveLabs secures funding for automotive software platform enabling iteration and speed
Startup RemotiveLabs is set to ensure that all software engineers, independent of industrial background, can solve challenges and collaborate in the cloud using best-practice approaches in software development. The Malmö-based AutoTech company has secured funding of 900k Euro and is now ready to scale internationally.
RemotiveLabs enables automotive OEMs to take full ownership of their software development while allowing engineers to utilize the processes and languages of their choice. “Speed and quality in software development is defined by iteration” says Aleksandar Filipov, Founder and CTO and adds: “Yet in the automotive industry software engineers are hindered by traditional processes, outdated tooling and by a hardware-centric approach requiring physical access to the electromechanical parts”.
Investors include Volvo Cars Tech Fund, Almi Invest and private investor Anette Saleskog. The new funding will be used to continue to develop the platform and to grow awareness in the global marketplace. “The status quo tooling is not only expensive, but also hindering innovation and lowering productivity. We see a great response to what we’ve built so far and now we are set to grow a global community with a developer-first mindset to software in automotive” adds Per Sigurdson, Co-Founder and CEO.
RemotiveLabs has built a strong momentum in a short period of time with platform growth through word-of-mouth. Use cases include simplifying early-stage design verification, enabling more efficient collaboration with partners as well as simplifying continuous software integration. “Today, Volvo cars are increasingly defined by software-driven functions. RemotiveLabs provides one of the innovative tools supporting the real-time communication between our cars and virtual environments to help accelerate our software development,” comments Patrik Bengtsson, Head of Software Platform at Volvo Cars.
Software is transforming the competitive landscape in automotive. Several strong trends including autonomous vehicles, connectivity, electrification and shared mobility further add complexity. Original Equipment Manufacturers (OEMs) rely on software innovation while adhering to industry’s traditional and long-established value chains.
