SDVerse is a joint venture created by General Motors, Magna and Wipro to build a digital sales platform for buying and selling automotive software. The platform will link buyers and sellers and allow software features and attributes to be listed on the marketplace. It is currently in development and is expected to feature hundreds of automotive software products and participants across the industry. SDVerse will follow an annual subscription-fee model and will not charge any fee for buying or selling products. Wipro disclosed a $5.85 million investment that equates to a 27% stake; GM and Magna will hold 46% and 27% stakes, respectively. GM, Magna and Wipro will hold seats on the SDVerse board, though the platform will operate independently. The companies said the transaction is expected to close before the end of March, and Wipro noted the automotive software market is expected to nearly double this decade.

Total raised

$6M

Funding rounds

1

Latest round

Equity

Latest activity

Mar 2024