The round was led by Mucker Capital with participating investors including Kickstart Seed Fund, Peak Ventures, Royal Street Ventures, and Convoi Ventures. The funds will support Treads' expansion into 16 additional cities in the U.S., making Treads available in 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 has users covered for tires, alignments, oil changes, wiper blades, and even auto insurance.