Startup
Posted:
3 years ago
Latvian Company Buys Stake in Georgian Startup TTM
Latvian company Baltic Tech Ventures has bought a stake in Georgian startup Total Traffic Management (TTM). Later, the Latvian company plans to increase its stake in the Georgian startup.
TTM has developed a smart device for limiting automobile speed – ISA (Intelligent Speed Assistant) that together with GPS technology reduces automobile speed in real time within the specific road section. ISA is fixed at the acceleration pedal and it is adaptable to almost all vehicles, including hybrid and electric cars.
„Baltic Tech Ventures is happy to have the opportunity of investing in TTM. We met representatives of the Georgian startup in Tbilisi, at the event organized by Axel and Tbilisi City Hall. We share the TTM vision – the World without Road Accidents. We fully trust the capabilities of the TTM team and we believe that their innovative technologies can make driving safer”, Jin Zolotarev said.
“We have achieved impressive first results and we have very positive expectations, because negotiations are underway with several other startups’ for attracting new investments”, Deputy Tbilisi Mayor Andria Basilaia said.