Israeli auto-tech co Autobrains raises $101m

Raising funds Photo: Shutterstock

Based on over 250 patents, Autobrains' technology delivers sophisticated and affordable advanced artificial intelligence capabilities for the new era of safety and autonomy.

Israeli self-learning AI technology for assisted and autonomous driving company Autobrains (formerly Cartica AI) today announced the completion of a $101 million Series C financing round led by Singapore's Temasek. Also participanting in the round were new investors Knorr-Bremse AG, Vietnamese car manufacturer VinFast, and existing investors BMW and Continental AG. This brings to $121 million the amount raised by the company.

Based on over 250 patents and a decade of R&D, Autobrains' technology delivers sophisticated and affordable advanced artificial intelligence capabilities for the new era of safety and autonomy.

Autobrains' self-learning AI operates in a fundamentally different way from traditional deep learning systems. Based on multi-disciplinary 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 to compressed signatures to identify concepts and scenarios for optimal decision-making. This results in a single representation of space and advanced perception and understanding of the contextual elements of driving scenarios, leading to superior performance in the most challenging edge cases. By reducing reliance on labeled data, Autobrains' technology requires far less computing power and can be produced at a fraction of the cost of current deep learning systems on the market.

Autobrains CEO Igal Raichelgauz said, "The promise of fully autonomous vehicles can feel like its perpetually five years away, but not for Autobrains. Our self-learning AI technology will bring full autonomy closer to the present. By reducing the need for manually labeled training data that feed systems which miss or misinterpret the most challenging scenarios, our technology is more agile and on a steeper trajectory than our competitors' systems. With this latest round of funding, we're excited to grow our commercial reach and bring self-learning AI to additional markets."

Published by Globes, Israel business news - en.globes.co.il - on November 1, 2021.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2021.

Raising funds Photo: Shutterstock
Raising funds Photo: Shutterstock
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