ClearMotion, Inc, a Boston-based automotive technology company which is developing the world’s first digital chassis, has raised $100 million in series C financing.
J.P. Morgan Asset Management led the funding with participation from Qualcomm Ventures, New Enterprise Associates (NEA), World Innovation Lab (WiL), and Eileses Capital. J.P. Morgan Asset Management’s Managing Director, Jonathan Ross will join ClearMotion’s Board of Directors.
Traditional automotive shock absorbers with software-controlled actuators are getting replaced by ClearMotion’s digital chassis technology, which allows cars to interpret and react to road conditions in real time. ClearMotion’s system combines an unmatched level of comfort with the agility and response of a sports car.
The actuator technology of ClearMotion pushes and pulls the wheels at high speed while delivering a relaxing and calm ride experience in what otherwise may be disturbing conditions. Their proprietary software algorithms have enabled the system’s commercial viability while maintaining dramatic gains in performance. In short, the technology based on proprietary software algorithms allows cars to interpret and react to road conditions in real time.
Founded out of the Massachusetts Institute of Technology by Shakeel Avadhany, CEO, and co-founder, ClearMotion is an automotive technology startup focused on launching the world’s first digital chassis to usher in next-generation user experience for autos.
“Innovation in the car business is ramping dramatically, and we see an opportunity to make our mark upon it. Self-driving functionality mandates a future in which cars afford not just driving pleasure, but the utility of a mobile office. We are focused on the quality of time in autos and how we transform it by digitizing our relationship to the road, allowing software to control the dynamics of the car. We are excited to work with leading automakers and Tier-1 suppliers in making this a reality,” said Avadhany.
