BOSTON (PRWEB) January 09, 2019
ClearMotion, Inc., an automotive technology company focused on proactive ride systems, has raised a $115 million Series-D preferred stock financing led by Franklin Templeton Investments, with significant participation from clients advised by J.P. Morgan Asset Management, as well as participation from Microsoft, Bridgestone, Qualcomm, World Innovation Lab, NewView Capital and Eileses Capital. The company has completed successful development programs on multiple car lines and has commissioned a pilot production facility for its first OEM launches.
“From tire to human, we have developed a software and hardware solution that digitizes our analog relationship to the road,” says Shakeel Avadhany, founder and CEO of ClearMotion. “As mobility options change how people move about cities and suburbs, the importance of quality of time in vehicles escalates, both for drivers and passengers. In working with our OEM customers and Tier-1 partners, ride quality has risen in priority while they simultaneously seek enhancements to their driving dynamics DNA.”
ClearMotion’s proactive ride system mitigates road roughness in real time, doing for motion what noise-cancelling does for noise. Through a software and hardware solution, the technology senses uneven road surfaces and enables the vehicle to react, giving occupants unmatched levels of handling, stability, comfort and safety. In concert with this approach, ClearMotion has pioneered RoadMotion™, a road surface mapping software platform that fingerprints road surfaces and stores this data in the cloud. Highly accurate traces of road surface contours are gathered from existing vehicle sensor systems and synthesized in the cloud to proactively improve ride.
“As a large investor in both automotive and technology businesses, we carefully assess the evolving mobility landscape and have found a unique tech company in ClearMotion,” says Ryan Biggs, research analyst for Franklin’s Equity team. “Mobility has become a commodity, and ClearMotion has developed a compelling product and service that offers differentiation for both the OEM and the ride sharing firms at a critical juncture for the industry.”
As part of the investor syndicate, AARP also participated in the round in line with their work to empower people to choose how they live as they age. Scott Frisch, EVP and COO of AARP comments, “The AARP Innovation Fund invests in companies that are developing innovative solutions focused on the interests and needs of people as they age. ClearMotion provides enhanced mobility options that allow people to be more safe, healthy and productive while travelling.”
With over 10,000 patent claims issued or pending worldwide, ClearMotion is at the forefront of technical advances in the space. The company is set to lead the industry in developing a new experience for a new age of transportation.
ClearMotion’s road-sensing technology is enabling a next-generation user experience in vehicles. The company’s proactive ride system combines software and hardware to mitigate vehicle movement across uneven road surfaces. ClearMotion was founded out of the Massachusetts Institute of Technology and is headquartered in the greater Boston area with an additional development center and proving grounds in Birmingham, UK. For more information, visit http://www.clearmotion.com.