Bosch Ventures closes investment round in AutoCore.ai
High-performance automotive middleware company to accelerate growth. Bosch Ventures places its first investment into a Chinese automotive middleware company.
Stuttgart, Germany and Shanghai, China – More than ever, innovations in the automotive sphere are driven by software engineering. One core enabler for this trend is the decoupling of hardware and software through a new generation of automotive middleware products that are now accelerating into stage of automotive mass production. Robert Bosch Venture Capital, the corporate venture capital entity of the Bosch Group, completed an investment in AutoCore.ai. Established in 2018, AutoCore.ai has rapidly developed into an aspiring supplier of high-performance automotive middleware. The company has a proven track record with an impressive customer base and has shown a striking growth over the last years, both in products and capabilities.
Along with the investment, Robert Bosch Venture Capital also announced a unification of its branding as Bosch Ventures in the future. The brand Bosch Ventures underlines the connection to the Bosch Group. Besides the standardized brand, nothing changes: As one of Europe’s largest corporate investors, Bosch Ventures not only provides capital, but also offers start-ups access to specialist, industry and manufacturing knowledge gained from more than 135 years of business activity.
Innovative startup for the automotive value chain
Based on the Autocore.OS software platform, AutoCore.ai provides automotive customers with middleware products like AutoCore.COMM, a next generation networking solution. The first AutoCore.ai software products have already the ISO26262 highest functional safety level ASILD product certification. It has reached strategic cooperation with many mainstream chip manufacturers, and its products are used in many OEMs and Tier1 mass production projects.
AutoCore.ai will also strategically benefit from Bosch’s strong network and communities for the software-defined vehicle by leveraging collaboration opportunities with Bosch’s entities and partners.
“We believe that Autocore.ai will represent China's outstanding innovative enterprises and become a sought-after specialist in the international automotive supply chain”,
says Dr. Ingo Ramesohl, Managing Director of Bosch Ventures.
Dr. Yang Zhang, Founder and Chairman of AutoCore.ai, states:
“We are thrilled that our hard work and unwavering dedication is being recognized by our wide customer base and glad that Bosch Ventures joins us in this journey. We expect close collaboration between us in the global arena.”
The investment is led by Bosch Ventures and Boyuan Capital, joined by existing shareholder GL Ventures.