KPIT Tech to acquire 13% in Swiss cloud-based in-vehicle gaming startup
Strategic investment in N-Dream is part of KPIT’s roadmap to enable automotive OEMs enhance the driver and passenger experience in future cars. KPIT will offer complementary software integration and validation services to N-Dream’s automotive clients which include the BMW Group.
Pune-based KPIT Technologies, the leading software integration partner for the automotive and mobility industry, is set to acquire 13% shareholding in N-Dream AG, a Cloud-based game aggregation platform startup based in Switzerland, with an option to increase the shareholding further.
The 13% equity stake acquisition is to be completed by December 15, 2023 with KPIT investing 3 million euros in N-Dream. The Board of Directors of KPIT Technologies at its meeting held on November 9, 2023 has approved the same.
N-Dream, which is an early mover into the in-car gaming space offering a proven Cloud-based game aggregation platform including data to automotive OEMs worldwide, recorded a turnover of CHF 1.99 million (as on December 31, 2022), up from CHF 0.865 million in 2021 and CHF 0.784 million in 2020. The Zurich-based startup’s strategic goal is to bring the $152 billion mobile gaming industry to all living room TV and in-car entertainment systems by using Cloud OTA (over-the-air) technology).
N-Dream’s Cloud-based in-car game aggregation platform offers an array of casual game genres, including edutainment, racing and sports. One of its leading products is AirConsole which caters to the automotive industry. N Dream has a current staffing strength of 19 employees.
According to KPIT Technologies, its “strategic investment in N-Dream is part of KPIT’s roadmap to enable automotive OEMs to enhance the driver and passenger experience in the cockpit of the future. KPIT will offer complementary software integration and validation services to N-Dream’s automotive clients.”
Both companies will collaborate towards offering value-added data products for automotive OEMs, thereby enabling them to create additional monetizable experiences and features.
N-Dream partners BMW Group to spur development of in-vehicle games
In November 2022, N Dream’s AirConsole and the BMW Group entered into a partnership that will bring casual gaming to new BMW vehicles starting 2023 and the German luxury carmaker has selected AirConsole as a partner in the BMW Startup Garage program.
In its statement, BMW had said: “AirConsole is a gaming platform that perfectly matches the BMW Curved Display and offers a vast and diverse selection of games. Implemented in the vehicle's entertainment system, AirConsole technology enables games to be instantly streamed over-the-air and controlled via smartphones.
Setting up the gaming experience with AirConsole is seamless. Players only need a smartphone, which serves as the game controller, and the BMW Curved Display. The connection between the smartphone and the vehicle is established by scanning a QR code in the vehicle. Players can then immediately enjoy entertaining gameplay.”
Commenting on the tie-up with BMW, Anthony Cliquot, CEO of N-Dream, the company behind the AirConsole brand, said, "We are very proud to partner with BMW to spur the development of in-vehicle games and look forward to developing new games for in-vehicle entertainment. Our sophisticated architecture combined with the ease of accessibility of our platform will change the way people are entertained in their vehicles."
“With AirConsole we will leverage innovative technologies combined with a broad variety of fun and multiplayer games. This will make every waiting situation inside the vehicle, such as charging, an enjoyable moment,” said Stephan Durach – Senior Vice-President, BMW Group Connected Company Development.
KPIT Increases growth outlook for FY2024 to 37%
On October 30, KPIT Technologies announced its Q2 FY2024 results, and reported 51.7% growth in revenue and an increase in growth outlook for entire FY2024 to 37% earlier.
New profit in Q2 FY2024 was Rs 140.9 crore, which translates into year-on-year PAT growth of 68.7% and 5.1% quarter on quarter. As per the company, deals worth $156 million were closed in Q2 FY2024, which saw broad-based growth in its strategic accounts, passenger car vertical, electric powertrain, autonomous driving and digital connected solutions practices. The company’s net cash position at the end of Q2 FY2024 was Rs 512 crore after acquisition payouts of Rs 98.7 crore for Technica Engineering and FMS (Future Mobility Solutions GmbH).
In September 2022, KPIT had acquired Munich-headquartered Technica Engineering, which specialises in production-ready system prototyping (combination of network system architecture, hardware prototyping, integration), automotive ethernet products, and tools for validation. The two companies aim to offer a one-stop-shop solution for the global automotive industry to migrate rapidly towards software-defined vehicles (SDVs) by speeding up prototyping and software access, and reducing workflow complexities.
The total contract value of new deals won during Q2 FY2024 is $156 million (Rs 1,295 crore). These include:
- A multi-year engagement in the autonomous driving domain for a leading European car maker.
- Multiple programs in the electric powertrain, autonomous driving and connected domains for a leading European car manufacturer.
- Strategic engagements in the electric powertrain domain for a major American car maker.
- Program in the powertrain domain for an American carmaker.
- Various strategic engagements in the connected and vehicle engineering domains for a leading Asian OEM.
Lead image: courtesy BMW
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