Most automotive tech startups focus on developing software that enables autonomous vehicles. While there are some big name names in the industry, it’s a relatively small field. Many of these companies are in the early stages, and most can be profitable and survive without much outside help. But with the market for self-driving cars growing exponentially, there are some promising prospects for the future. Innoviz, an Israeli company developing lidar sensors for self-driving cars, recently merged with blank-check firm Collective Growth Corp and started supplying BMW with its technology. And while no one has seen the results yet, another startup, TuSimple, announced plans to go public in March this year, raising $1.3 billion. This would be the first major IPO for an autonomous driving startup and be the first one in the US.
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With this massive potential, many automotive tech startups are starting to see impressive results. Some of them are using artificial intelligence (AI) to strengthen driver safety in autonomous vehicles, while others are making new ways to transport goods. Check out these 17 startups that are reinventing the way we move around and pave the way for a more productive future. They’re all making significant strides in their respective fields. If you’re interested in investing in a startup, be sure to follow them on Twitter.
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Another company tackling autonomous vehicles is Autotalks. Founded in 2008, the Israeli startup claims to be able to predict potential collisions based on a vehicle’s speed and location. The company’s technology is now part of the Smart Transportation & Energy programme at Startupbootcamp. Lastly, clickMechanic has launched an online marketplace for auto repair services and is available in the UK. And while there are lots of startups in this space, the industry is far from being saturated.
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