Israeli autonomous car safety automated verification and measurement company Foretellix today announced it has closed a $14 million Series A financing round led by 83North, Jump Capital, and Nextgear Ventures. The investment will accelerate Foretellix’s development, customer programs and deployment of its coverage driven verification solution. The company has now raised over $16 million since it was founded.
Based in Tel Aviv, Foretellix was founded by CEO Ziv Binyamini, CTO Yoav Hollander and VP operations and business development Gil Amid.
Binyamini said, “We are excited to work with 83North, Jump Capital and Nextgear Ventures to tackle the largest obstacle to the adoption of autonomous vehicles - safety. This funding will help us accelerate the industry transition from ‘quantity of miles’ to ‘quality of coverage’ and broad deployment. These investors also bring Foretellix tremendous knowledge and experience in ramping successful start-ups, enterprise business models, and penetrating the automotive industry”.
Foretellix provides autonomous car developers with the ability to realize and demonstrate the extremely high level of safety required. Foretellix develops coverage driven verification solutions to ensure that the autonomous vehicle behaves properly in the 100’s of millions of critical driving scenarios, and are therefore safe for broad deployment.
Foretellix also automates the extraction and analytics of the safety related coverage metrics, representing the percentage of scenarios proven to work in a wide range of possible situations and conditions. These metrics are required by developers, consumers, suppliers, insurance companies and regulators. This solution works with all required driving platforms, including simulators, X-in-the-loop configurations, test tracks and test vehicles.
Published by Globes, Israel business news - en.globes.co.il - on January 16, 2019
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