Tactile Mobility Announces $27 Million Series C Investment

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Israeli startup Tactile Mobility announced $27 million Series C funding round. The investment brings Tactile’s total funding to $47 million. The round was led by Delek Motors, with strategic investment from Goodyear Ventures and Porsche Ventures and support from Union Group, The Group Ventures, Zvi Neta (AEV), Giora Ackerstein and Doron Livnat.

Virtual Sensors
Tactile Mobility provides software – the Tactile Processor (TP) – that collects data produced by in-vehicle sensors – including wheel speed, wheel angle, RPM, pedals position, gear position – and following additional processing, generates “virtual sensors” that provides vehicles with a sense of touch. Example virtual sensors include vehicle health, tire tread depth, weight estimation, aquaplaning, and micro collisions.

Cloud Platform
Data from the virtual sensors can be uploaded to the company’s cloud platform – the Tactile Cloud (TC) – to create maps describing vehicle operation or road conditions (potholes, road slipperiness, snowfall and more). Those maps can then be sold to fleet managers, automotive OEMs, Tier-1 suppliers, transportation authorities and others, which can then be used to develop new solutions for increasing system efficiency and performance, as well as improving the overall driving experience.

Revenue Share
Tactile has a revenue share model with vehicle OEM customers to monetize whatever data it collects in its cloud. According to Tactile officials, the company has engaged in more than 30 proof of concepts and pilots with seven OEMs.

Working With BMW
Tactile has a formal production relationship with BMW, working with the automotive maker on tire grip, which measures the grip between the car and the road while a car is operating. According to Tactile officials, the company’s tire grip solution is incorporated into 2.5 million BMW vehicles annually, with millions of vehicles are passively mapping road surfaces for the company.