COMPREDICT, an AI-based company for software-defined vehicles, announced a $15 million Series B funding round led by Woven Capital (Toyota’s growth fund), with continued support from existing investor Shift4Good.
This funding round will enable COMPREDICT to expand its global footprint, diversify its product offerings, and enhance large-scale deployment capabilities. And by embedding its virtual sensors into more vehicles, COMPREDICT aims to unlock more data and enable any automaker to create new functionalities, enhance driving assistance systems, and boosting revenue streams while improving the overall driver experience.
Traditional vehicle health and usage monitoring requires companies to integrate extra hardware and build more data pools across fleets and digital twin cloud infrastructures. However, COMPREDICT’s approach is purely software-based and uses readily available vehicle signals to create meaningful insights directly in-vehicle.
The company’s efficient AI process turns existing vehicle data into virtual sensor insights for a wide range of applications, including predictive maintenance, driver coaching and car health certificates while also informing improved car design to better meet real-world conditions and usage. And these insights provide significant value to automakers, consumers, and partners.
KEY QUOTES:
“We are thrilled to welcome Woven Capital as an investor. This is an exciting time for us as we approach large-scale series implementation with major partners and customers worldwide. Our team is well positioned to rapidly expand and provide automakers with valuable data-driven insights. We remain committed to advancing cutting-edge AI technologies in the automotive industry and help automakers realize their vision for vehicle-centric apps and digital services that deliver value to consumers.”
– Dr. Stéphane Foulard, co-founder and CEO of COMPREDICT
“By using existing onboard vehicle signals and data to generate AI-based vehicle insights, COMPREDICT has demonstrated the vast potential of virtual sensors, a critical layer in the software-defined vehicle stack, reducing costs and unlocking revenue-generating digital services. We are thrilled to back the COMPREDICT team, a company that is uniquely combining data science and vehicle engineering expertise to bring new innovative capabilities, such as predictive maintenance for next-gen vehicles.”
– Betty Bryant, Woven Capital principal who is joining the COMPREDICT board
“COMPREDICT is a key enabler of the automotive industry’s digital transformation, boosting predictive maintenance capabilities. Since our initial investment in 2022, the team’s progress has been remarkable. We look forward to continuing our support for their growth.”
– Matthieu de Chanville, partner at Shift4Good
