USA, Park City-based Treads has successfully raised $4.6 million in seed funding, with Mucker Capital leading the round and participation from investors such as Kickstart Seed Fund, Peak Ventures, Royal Street Ventures, and Convoi Ventures. The company plans to use these funds to facilitate its expansion into 16 additional cities across the U.S., aiming to be available in 34 cities by the end of 2023.
Treads, led by CEO and Founder Zach Olson, offers an AI-powered car management subscription platform designed to simplify car maintenance. Through their mobile app, customers can access services related to tires, alignments, oil changes, wiper blades, and even auto insurance. The platform uses AI for predictive maintenance updates and visual machine learning to assess tire condition. Users can scan their tires using their smartphone camera to receive information about tire size, tread depth, and condition. Treads also provides the convenience of delivering and installing new tires at the customer's location or at brick-and-mortar service centers within the Treads Service Network.