Mobility tech startup COMPREDICT announces an extension of its Series A with Shift4Good.
Shift4Good is an impact venture capital fund dedicated to sustainable mobility and the circular economy. It aims to decarbonise the transport sector for goods and people, which alone accounts for around 20% of global CO2 emissions. Backed by top-notch institutional financial investors, but also major mobility players, Shift4Good has built a unique model to identify and support the best entrepreneurs, those capable of developing and deploying the radical innovations required by the climate emergency. Shift4Good has offices in Paris and Singapore.
Darmstadt, Germany – November 14, 2022
COMPREDICT, a provider of secure vehicle data analytics solutions specialized in virtual sensing that leverage standardly available on-board data to reduce the ecological footprint and increase the sustainability of vehicles over the entire lifecycle, today announced an extension of its Series A funding round with Shift4Good, an AMF-registered Venture Capital fund dedicated to Impact Investing in smart mobility & circular economy where it intersects with mobility. Shift4Good joins COMPREDICT’s initial Series A investors Vektor Partners, BlackBerry and THI.
Stéphane Foulard, COMPREDICT’s CEO said:
I am pleased to announce that Shift4Good joined our Series A funding as a strong partner on our journey for sustainable mobility. Now is the time for us to scale our solution to reduce the environmental impact of vehicles, as we move from R&D projects towards series production vehicles, and edge implementation of our Virtual Sensors’ technology.”
The current trend from individual to shared mobility, and the paradigm shift from a one-time product lifecycle towards re-use and re-purpose of multiple components in a circular economy, both induce major changes in vehicle product specifications. Lifespan mileage of vehicles is getting longer, increasing the need for reliability and durability, while the mitigation of climate change requests a reduction of energy consumption and overall environmental impact of mobility.
Matthieu de Chanville, Co-Founder & Managing Partner of Shift4Good said:
Shift4Good is very proud of joining this financing round of COMPREDICT. We are convinced that the development of virtual sensors will contribute to the development of vehicles that require less hardware sensors, vehicles for which critical components can be better right-sized and predictive maintenance ultimately helps improve the lifetime of the asset. Those improvements all yield a significant positive impact on the environment. COMPREDICT differentiating collaborative approach with carmarkers’ and tier-1 suppliers’ engineering teams has enabled the team to develop superior algorithms, by combining deep automotive mechatronics and mechanics expertise with strong data science mastery.”
COMPREDICT’s AI-based Virtual Sensors offer vehicle manufacturers (OEMs) and mobility providers deep insights into how vehicles are used in real life, whatever the usage scenario.
The German startup’s approach combines years of automotive durability expertise with state-of-the art data science. Based on standardly available on-board data like temperature, pressure, speed or voltage, they scan the vehicles from inside to determine component load profiles, wear over time, component aging, and detect anomalies early before failure. From a global point of view, COMPREDICT’s Virtual Sensors allow to exactly assess the health & usage of vehicle components, and allow data-driven decisions between re-use, re-purpose and re-cycle. On the one side, precise component load profiles pave the way for a data-driven approach to durability design. This avoids failures during operation, while reducing total cost of ownership, weight and energy consumption related to over-designed components. On the other side, lifetime prediction of wear components like brakes and tires enables more efficient, predictive maintenance and reduces the wear parts to be replaced throughout a vehicle’s lifetime, while enabling new business models and revenue streams for OEMs.