ClearMotion Secures $100 Million Investment Led By J.P. Morgan Asset Management To Commercialize World’s First …

BOSTON, Feb. 1, 2017 /PRNewswire/ — ClearMotion, Inc., an automotive record association building a world’s initial digital chassis, announced now a $100 million Series C elite batch financing led by clients suggested by J.P. Morgan Asset Management, with appearance from New Enterprise Associates (NEA), Qualcomm Ventures, World Innovation Lab (WiL), and Eileses Capital. This turn brings a company’s sum investment to date to over $130 million.

ClearMotion’s “digital chassis” record replaces normal automotive startle absorbers with software-controlled actuators, permitting cars to appreciate and conflict to highway conditions in genuine time. The complement combines an unmatched turn of comfort with a response and lively of a sports car. ClearMotion’s actuator record pushes and pulls a wheels during high speed, delivering a ease and relaxing float knowledge in what differently might be unfortunate conditions. Proprietary program algorithms have enabled a blurb viability of a complement while progressing thespian gains in performance.

“Innovation in a automobile business is ramping dramatically, and we see an event to make a symbol on it,” pronounced Shakeel Avadhany, CEO and co-founder of ClearMotion. “Self-driving functionality mandates a destiny in that cars means not only pushing pleasure, though a application of a mobile office. We are focused about a peculiarity of time in autos and how we renovate it by digitizing a attribute to a road, permitting program to control a dynamics of a car. We are vehement to work with heading automakers and Tier-1 suppliers in creation this a reality.”

Jonathan Ross, Managing Director during J.P. Morgan Asset Management, is fasten ClearMotion’s Board of Directors. “As a universe continues to pierce toward connected, unconstrained cars and mobility services, a subsequent limit of foe will be user-experience,” pronounced Ross. “People spend an normal of 1.5 hours per day in their cars. ClearMotion record transforms a in-cabin experience, gripping passengers productive, safe, gentle and engaged. This is executive to how we prognosticate mobility of a future.”

About ClearMotion

ClearMotion is a venture-backed automotive record startup formed in a Boston area. The association was founded out of a Massachusetts Institute of Technology and is focused on rising a world’s initial digital framework to chaperon in next-generation user knowledge for autos. ClearMotion is led by an gifted group and corroborated by marquee investors. For some-more information, revisit https://www.clearmotion.com.

About a J.P. Morgan Asset Management Private Equity Group

The J.P. Morgan Asset Management Private Equity Group (PEG) has been investing in Venture Capital given 1980. An endless story in a space has enabled clever relations with some of a world’s many successful try funds. The infancy of PEG underlying venture-backed companies are in a technology, telecom, amicable networking and life scholarship sectors. While their largest aim marketplace is in a U.S they also actively deposit in China, Europe, a U.K, India and Israel. For some-more information, revisit https://am.jpmorgan.com/us/institutional/venture-capital.

About New Enterprise Associates

New Enterprise Associates, Inc. (NEA) is a tellurian try collateral organisation focused on assisting entrepreneurs build transformational businesses opposite mixed stages, sectors and geographies. With scarcely $17 billion in accumulative committed collateral given inception, NEA invests in record and medical companies during all stages in a company’s lifecycle, from seed theatre by IPO. The firm’s prolonged lane record of successful investing includes some-more than 200 portfolio association IPOs and some-more than 320 acquisitions. For some-more information, revisit http://www.nea.com.

About Qualcomm Ventures

Qualcomm Incorporated is a universe personality in 3G, 4G and next-generation wireless technologies. Qualcomm Ventures was formalized in 2000 and now has a portfolio of some-more than 100 active companies and 20 investment managers opposite a globe. For some-more information, revisit https://www.qualcommventures.com.

About World Innovation Lab

World Innovation Lab (WiL) is a try collateral organisation that helps record companies grow into durability tellurian ventures by pushing new business opportunities with Japan’s top corporations. WiL manages $360M in collateral from Japanese companies such as ANA, Sony, NTT Group, JVC Kenwood, Nissan, Daiwa Securities, Mizuho Bank, Seven Bank and others. For some-more information, revisit http://wilab.com/en/.

 

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