Autobrains Announces $ 101 Million Series C Funding Led by Temasek
Today’s announcement reflects the anticipation of global leaders, including Tier 1 suppliers and OEMs, as well as sophisticated investment funds, that Autobrains is disrupting advanced driver assistance systems ( ADAS) and the autonomous vehicle market with its alternative approach to automotive AI. The funding will increase the company’s commercial reach into new global markets.
Autobrains’ self-learning AI works in a fundamentally different way from traditional deep learning systems. Based on multidisciplinary research and development, self-learning AI does not require the massive brute force data and labeling typical of deep learning AI. Instead, the system maps raw real-world data onto compressed signatures to identify concepts and scenarios for optimal decision making. The result is a unique representation of space and an advanced perception and understanding of the contextual elements of driving scenarios, leading to superior performance in the most difficult extreme cases. By reducing reliance on labeled data, Autobrains technology requires much less computing power and can be produced at a fraction of the cost of current deep learning systems on the market.
“The promise of fully autonomous vehicles may appear to be five years away perpetually, but not for Autobrains,” said Igal Raichelgauz, CEO of Autobrains. “Our self-learning AI technology will bring full autonomy closer to the present. By reducing the need for manually labeled training data that feeds into systems that miss or misinterpret the most difficult scenarios, our technology is more agile and secure. a steeper trajectory than our competitors “. With this latest round of funding, we are excited to expand our commercial reach and bring self-learning AI to other markets. “
Karl-Thomas Neumann, President of Autobrains also said: “This funding round is an exciting milestone for Autobrains and further validation of our self-learning AI solution for ADAS and autonomous driving. The future of mobility will be fueled by intelligent AI. With new and existing partners. We will bring self-learning AI to other global markets, expand our business reach, and continue to grow as a leader in AI technology enabling safer assisted driving capabilities and levels of higher automation for next-generation mobility. “
The automotive industry is moving towards more sophisticated ADAS and increased range. Regulations, starting with EU countries, require advanced safety systems to be in place in new vehicles from mid-2022. Based on more than 250 patents and a decade of R&D, Autobrains’ mature technology delivers the most sophisticated and affordable advanced artificial intelligence available on the market and will usher in a new era of security and autonomy.
Herzog Fox & Neeman served as legal counsel to Autobrains in this transaction with a team led by Head of Hi-Tech, Hanan Haviv, and partner Dan Sharot. Autobrains is also working with leading banks, JP Morgan and Rothschild & Co. on its growth strategy.
Autobrains (formerly Cartica AI) is one of Israel’s leading AI mobility companies, radically reinventing AI for the safest path to self-reliance. Revolutionizing the way we apply deep learning, self-learning AI is a new approach to perception that drives the transition to the safest, most autonomous car possible. Autobrains offers solutions for the next generation of cars and mobility, delivering safer and better performance with less energy consumption and at a lower cost.
PR and media contact:
Ben williams, Associate Director, Breakwater Strategy
+ 1- (508) -330-5321
Sales and marketing contact:
Alessandro Manca, Vice President of Sales and Business Development, AutoBrains Technologies
+39 335 730 0749