Harman International, a subsidiary of consumer electronics producer Samsung, agreed today to acquire Savari, a US-based developer of wireless sensors for the automotive industry, allowing several corporates to exit.
Savari is developing sensors and software for use by automotive manufacturers. It most recently raised $12m in a 2018 series B round led by Aviva Ventures, the investment arm of insurance firm Aviva.
The round included supply chain services provider Flex and SAIC Capital, a vehicle for carmaker SAIC Motors, as well as an unnamed additional strategic investor later revealed to be GM Ventures, the corporate venturing arm of automotive manufacturer General Motors.
SAIC Capital had previously invested in Savari as part of an $8m series A round in 2016 that also featured Delta Electronics Capital, the corporate venture capital arm of automation technology manufacturer Delta Electronics.
