Sonatus Funding, Investors & Competitors

Sonatus has raised $110M across 2 funding rounds, most recently a $75M strategic investment round in December 2022.

Last Sonatus funding round

$75M

Strategic investment · Dec 2022

Cumulative funding Sonatus raised

$110M

across 2 funding rounds

Key investors in Sonatus

  • Translink Capital
  • Foxconn
  • UMC Capital
  • LG Electronics
  • Milano Investment Partners SGR
  • SAIC Capital
  • Kia
  • StratMinds

Sonatus Overview

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

United StatesSan Francisco, CA

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

Sonatus funding rounds
DateStageInvestorsRaisedDeal Summary
Dec 2022Strategic investmentFoxconn (lead)$75MSonatus 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 2021Series ATranslink Capital (lead); Milano Investment Partners SGR; SAIC Capital; Wanxiang Group; UMC Capital; Marvell Technology; LG Electronics; Kia; StratMinds$35MSonatus 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

Investors in Sonatus by funding rounds participated
InvestorHQRoundsRoleFirst check
FoxconnTaiwanTaipei1LeadDec 2022
Milano Investment Partners SGRItalyMilan1ParticipantJul 2021
SAIC CapitalChinaShanghai1ParticipantJul 2021
Wanxiang GroupChinaHangzhou1ParticipantJul 2021
UMC CapitalTaiwanHsinchu1ParticipantJul 2021
Marvell TechnologyUnited StatesSan Jose, CA1ParticipantJul 2021
Translink CapitalUnited StatesSan Francisco, CA1LeadJul 2021
LG ElectronicsSouth KoreaSeoul1ParticipantJul 2021

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Sonatus Competitors

Sonatus competitors include listed companies like Constellation Software and Dassault Systemes, and private ones like Applied Intuition, Tekion, Zongmu and ElevenLabs.

Public and private companies comparable to Sonatus
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Applied IntuitionUnited StatesSan Francisco, CAPrivate$415M-$15B36.1x
TekionUnited StatesSan Francisco, CAPrivate--$4B-
Constellation SoftwareCanadaCanadaPublicly listed$12B$2.5B$43B3.5x
Dassault SystemesFranceFrancePublicly listed$7.2B$2.2B$32B4.0x
ZongmuChinaShanghaiPrivate--$11B-
ElevenLabsPolandWarsawPrivate$500M-$11B22.0x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Palantir$4.5B$1.5B92.6x58.1x285.0x97.4x
Snowflake$4.7B($1.3B)25.6x21.0x(94.1x)121.7x
Z.ai$108M($658M)422.9x65.9x(69.4x)(73.0x)
Autodesk$7.2B$1.8B6.3x5.7x25.6x14.1x
Constellation Software$12B$2.5B4.0x3.5x18.5x12.9x
Dassault Systemes$7.2B$2.2B4.0x4.0x13.2x11.2x
IonQ$130M($531M)109.9x40.3x(26.9x)(39.1x)
MiniMax Group$79M($1.9B)131.8x-(5.5x)-

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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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