Overview

STEER Tech specializes in technology for autonomous vehicles, particularly automated valet parking solutions. Their main product is an aftermarket self-park module that enables vehicles to park themselves, making the parking process easier for users. This technology is designed for both individual consumers and businesses, such as car manufacturers and parking facility operators. What sets STEER Tech apart from competitors is their focus on integrating their self-parking technology into existing parking systems, allowing for a smooth transition for users and facilities. The company's goal is to enhance the parking experience by providing convenient and safe solutions for vehicle owners.

Simplify's Take

What believers are saying

• Growing smart city initiatives boost demand for automated parking solutions.
• AI integration enhances self-parking precision, attracting consumers and enterprises.
• Rising partnerships with automotive manufacturers expand STEER Tech's market reach.

What critics are saying

• Increased competition from established companies like Tesla in autonomous parking.
• Potential legal challenges from autonomous vehicle accidents pose liability risks.
• Rapid regulatory changes may require frequent updates to STEER Tech's solutions.

What makes Steer unique

• STEER Tech specializes in automated valet parking, a niche within autonomous vehicles.
• The company offers an aftermarket self-park module for existing vehicles.
• STEER Tech targets both consumers and enterprises, broadening its market reach.

Help us improve and share your feedback! Did you find this helpful?

YesNo

Funding

Total Funding

$1.1M

Below

Industry Average

Funded Over

1 Rounds

$1,100,000

Seed

Oct 2016

Seed funding is usually the first official round after pre-seed, when a startup has a prototype or concept. It’s typically used to develop the product, test the market, and start building the team. Investors here are often angel investors or early-stage venture capitalists.

Seed Funding Comparison

Below Average

Industry standards

Ind Avg. $3.3M

$500k

$1.1M

$1.5M

$2M

$2.3M

$3M