Nexen Tire Invests in US Traffic Analysis Startup

Reduce Idling to Lower Carbon Dioxide Emissions↓

Next Century Ventures (NCV), the venture capital subsidiary of Nexen Tire, announced on the 7th that it will invest in the U.S. transportation management and analytics startup Automotus.

Automotus is a startup founded in 2017 that uses camera-based AI to automatically collect and analyze data on traffic and parking around curbs, supplying this information to public institutions. It collaborates with public agencies to address traffic issues caused by congestion near urban curbs due to the increase of delivery and shared vehicles. This helps reduce vehicle idling and thus lowers exhaust emissions.

NCV is a venture capital firm established in Silicon Valley in 2021 through a joint investment by Nexen Tire, the first in the domestic tire industry. It invests in startups in future mobility sectors such as urban air mobility and autonomous driving.

Jordan Justus of Automotus said, “We are pleased that NCV, which has a deep understanding of this industry, is participating in the investment,” and added, “We will expand our business through closer cooperation with NCV going forward.”

An NCV representative stated, “This investment is meaningful not simply as an investment in a high-growth company, but as the first step in preparing to build a sustainable mobility ecosystem,” and added, “We will continue to invest in healthy mobility companies with good technology that contribute to society to prepare for the future.”

[Photo by Nexen Tire]

This content was produced with the assistance of AI translation services.