ADASTEC Received $1 Million Investment from APY Ventures for Autonomous Driving Tech Development

ADASTEC, which offers innovative solutions in Level-4 autonomous driving technologies, received an investment of $1 million from Bilisim Vadisi GSYF, managed by APY Ventures.

Founded in 2018 and offering state-of-the-art automation solutions for large-scale buses and commercial vehicles, ADASTEC is a leader in this field by redefining the standards in the industry with its level-4 autonomous driving software platform ADASTEC announced that it received a $1 million investment from APY Ventures.

ADASTEC has achieved critical success with approvals from NHTSA (USA) and TUV Nord (Norway), becoming a major player in the field of level-4 autonomous driving solutions.

ADASTEC, which put the first level-4 autonomous bus into operation in Michigan, USA; has been serving in Stavanger, Norway for over a year. ADASTEC, which plays a leading role in Europe in this respect, demonstrates its determination to transform public transportation on a global scale.

ADASTEC CEO Dr. Ali Peker said about the investment;

“This investment we received from APY Ventures further reinforces ADASTEC’s vision of being a pioneer in the sector and its sustainable transportation mission. This funding will provide resources that will accelerate our research and development activities and further advance our level-4 autonomous driving technology. Our partnership will help our innovation and sustainable transportation efforts resonate across a wide geography and accelerate the global adoption of our autonomous buses.”

APY Ventures Fund Manager Mustafa Keceli said in his statement about his thoughts about the investment;

“We continue to invest in scalable startups that aim to expand globally with Bilisim Vadisi GSYF, which we manage within APY Ventures. We hope to support the initiative’s sustainable and efficient transportation technologies efforts by investing in ADASTEC, which operates successfully in the field of mobility, one of the fund’s focus technologies. We trust the vision of ADASTEC, which has a highly competent team in the field of autonomous driving technologies and has proven its success in the international arena.”

Source: Egirisim / Prepared by Irem Yildiz

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