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- Sonatus
Sonatus Funding, Investors & Competitors
Sonatus has raised $110M across 2 funding rounds, most recently a $75M strategic investment round in December 2022.
About Sonatus
Sonatus is a Fremont-headquartered automotive software provider enabling software-defined vehicles. Founded in 2018, its Vehicle Data Platform processes 10TB of telemetry daily from ECUs, supporting OTA updates and ADAS features for OEMs like NIO and Li Auto. Deployed in 1 million vehicles, it integrates with NVIDIA Drive for predictive maintenance and V2X communications.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Sonatus Funding History
Sonatus has raised a total of $110M across 2 funding rounds.
Sonatus' first fundraising round was a $35M Series A in July 2021. The most recent completed round was a $75M strategic investment round in December 2022.
Sonatus funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Dec 2022 | Strategic investment | Foxconn (lead) | $75M | Sonatus is a leading automotive software company focused on accelerating vehicle innovation toward software-defined vehicles. The company develops AI-enabled software-defined vehicle technology that bridges IT infrastructure and automotive innovation, with award-winning platforms recognized for in-vehicle and cloud software solutions. On December 7, 2022, Sonatus announced a $75 million Series B funding round led by Foxconn (Hon Hai Technology Group), the world's largest electronics manufacturer. Combined with the earlier Series A round, Sonatus had raised over $110 million USD from venture capital, strategic partners, and customers at the time of the Series B announcement. The round included investments from Hyundai Motor Group's Kia Corporation, LG Electronics, Marvell, SAIC Capital, Translink Capital, UMC Capital, Wanxiang Group Company, and NEC Orchestrating Future Fund. At the time of the announcement, Sonatus' software platform was in mass production in over 1 million vehicles from Hyundai, Kia, and Genesis, with expectations to grow to millions of cars by 2024. Foxconn specifically noted that Sonatus was a strategic partner to support its expanding vision in the EV market, providing brand-agnostic automotive solutions similar to its approach in PCs and mobile phones. The company was headquartered in Sunnyvale, California, with offices in Paris, France and Seoul, Korea. |
| Jul 2021 | Series A | Translink Capital (lead); Milano Investment Partners SGR; SAIC Capital; Wanxiang Group; UMC Capital; Marvell Technology; LG Electronics; Kia; StratMinds | $35M | Sonatus is a Silicon Valley-based automotive software company founded in 2018 that develops solutions for software-defined vehicles, enabling automakers to transform vehicles into 'data centers on wheels' through in-vehicle and cloud-based platforms for data collection, application running, and feature additions via networks like CAN bus and Ethernet. Its award-winning software platform was already in mass production in over 1 million vehicles from Hyundai, Kia, and Genesis as of July 2021, with plans to expand to millions more by 2024. The company built its initial operations bootstrapped, growing from a small team to over 50 employees before securing external funding, and its first-generation solution was deployed with a top global automaker. On July 21, 2021, Sonatus announced a $35 million Series A funding round led by Translink Capital, with participation from Hyundai Motor Group's Kia Corporation, SAIC Capital, LG Electronics, Marvell, UMC Capital, and Wanxiang Group. The funds were earmarked to fuel global growth, accelerate expansion, establish the brand through marketing, form new OEM partnerships, and advance the roadmap of next-generation software-defined vehicle solutions supporting advanced mobility use cases like Vehicle-to-Everything (V2X) technology. This round brought total funding above $110 million across multiple tranches, including later investments from Foxconn and NEC. Sonatus positions itself uniquely by combining IT/data center engineering expertise with automotive OEM and supplier talent to deliver scalable solutions integrable in as little as a year, reducing complexity, costs, and enhancing agility for automakers amid escalating digital demands. Investors like SAIC Capital highlighted Sonatus' alignment with industry priorities for digital evolution. Post-round developments included additional Series A extensions, such as a December 2022 tranche with Foxconn and a September 2023 investment from NEC and Translink Orchestrating Future Fund, contributing to the cumulative $110 million raised by late 2023. The company continued emphasizing production wins and ecosystem collaborations to drive vehicle software innovation. |
Who has invested in Sonatus?
10 investors have backed Sonatus across its funding rounds, including Translink Capital, Foxconn, UMC Capital, LG Electronics, Milano Investment Partners SGR and SAIC Capital.
Lead investors include Foxconn and Translink Capital.
Sonatus Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Lead | Dec 2022 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Participant | Jul 2021 | ||
| 1 | Lead | Jul 2021 | ||
| 1 | Participant | Jul 2021 | ||
This data is available for Pro users. Sign up to see all 10 Sonatus investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialSonatus Competitors
Sonatus competitors include listed companies like Constellation Software and Dassault Systemes, and private ones like Applied Intuition, Tekion, Zongmu and ElevenLabs.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $415M | - | $15B | 36.1x | ||
| Private | - | - | $4B | - | ||
| Publicly listed | $12B | $2.5B | $43B | 3.5x | ||
| Publicly listed | $7.2B | $2.2B | $32B | 4.0x | ||
| Private | - | - | $11B | - | ||
| Private | $500M | - | $11B | 22.0x |
Sonatus Public Comps
Sonatus is still privately-owned, but its public comps include Palantir, Snowflake, Z.ai, Autodesk, Constellation Software, Dassault Systemes, IonQ, MiniMax Group, Mobility Global and Presight AI.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $4.5B | $1.5B | 92.6x | 58.1x | 285.0x | 97.4x | |||
| $4.7B | ($1.3B) | 25.6x | 21.0x | (94.1x) | 121.7x | |||
| $108M | ($658M) | 422.9x | 65.9x | (69.4x) | (73.0x) | |||
| $7.2B | $1.8B | 6.3x | 5.7x | 25.6x | 14.1x | |||
| $12B | $2.5B | 4.0x | 3.5x | 18.5x | 12.9x | |||
| $7.2B | $2.2B | 4.0x | 4.0x | 13.2x | 11.2x | |||
| $130M | ($531M) | 109.9x | 40.3x | (26.9x) | (39.1x) | |||
| $79M | ($1.9B) | 131.8x | - | (5.5x) | - | |||
This data is available for Pro users. Sign up to see all Sonatus competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Sonatus
| When was Sonatus founded? | Sonatus was founded in 2018. |
| Where is Sonatus headquartered? | Sonatus is headquartered in San Francisco, CA, United States. |
| Is Sonatus publicly listed? | No, Sonatus is a private, VC-backed company. |
| How much funding has Sonatus raised? | Sonatus has raised $110M across 2 funding rounds. |
| What was Sonatus' last funding round? | Sonatus' last funding round was a $75M strategic investment round in December 2022, led by Foxconn. |
| Who are Sonatus' investors? | Sonatus' investors include Foxconn, Milano Investment Partners SGR, SAIC Capital, Wanxiang Group, UMC Capital, Marvell Technology, Translink Capital, LG Electronics, Kia and StratMinds. |
| Which companies are comparable to Sonatus? | Companies comparable to Sonatus include Applied Intuition, Tekion, Constellation Software, Dassault Systemes, Zongmu and ElevenLabs. |
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