Treads, a Park City, Utah-based AI-powered car maintenance subscription service, has raised $4.6 million in seed funding.
The round was led by Mucker Capital, with participation from Kickstart Seed Fund, Peak Ventures, Royal Street Ventures, and Convoi Ventures.
Founded in 2011, Mucker Capital is a venture capital firm based in Santa Monica, California. The firm prefers to invest in seed-stage and early-stage companies operating in the software and technology sectors.
Treads Use of Funds
The funds will support Treads' expansion into 16 additional U.S. cities, bringing its service to a total of 34 cities by the end of 2023.
Treads is an AI-powered car management subscription designed to make car ownership more enjoyable by eliminating the hassle of car maintenance while making the roads safer for everyone. Treads simplifies vehicle maintenance through its all-in-one subscription mobile app that offers subscriptions on tire replacement, wheel alignment, oil changes, and wiper blades. Treads subscription offers compatibility with all types of vehicles, from traditional gasoline cars to electric and smart vehicles. The platform features an extensive selection of top-tier tire brands, such as Goodyear, Michelin, Pirelli, and more.
Company: Treads App, LLC
Round: Seed Round
Funding Month: November 2023
Lead Investors: Mucker Capital
Additional Investors: Kickstart Seed Fund, Peak Ventures, Royal Street Ventures, and Convoi Ventures
Company Website: https://treads.app/
Software Category: AI-powered Car Management Subscription