Globes correspondent Israeli collision aversion technology developer Ride Vision today announced that it had raised $2.5 million in seed financing led by YL Ventures. The Herzliya-based startup has developed collision aversion technology giving any motorcycle 360º predictive vision bringing unprecedented protection and control for motorcycle riders.
Ride Vision cofounder and CEO Uri Lavi said, "Motorbike riders are typically coordinated, alert and very much in tune with the road. We have a special relationship with the road, but unfortunately many factors beyond our control increase risk of collision and the high speed, lightweight, fully exposed nature of the bike makes collisions more dangerous. As riders ourselves, we decided to apply our deep learning and advanced vision technology expertise to overcome the cost and technological challenges required to bring any motorbikes and their riders the ability to see, predict and prevent collisions with technology smart enough to leverage standard hardware and cameras, delivering warning signals within 100 milliseconds, without disturbing the rider’s focus."
Demand for vehicle safety has always been a top priority in the automotive industry, recently intensified with the proliferation of ADAS (Advanced Driver Assistance Systems) and technologies developed to prevent collisions. With the rise of autonomous vehicles, ADAS systems are becoming a core feature in modern vehicles. Ironically the higher risk two-wheel market has been overlooked despite the February 2018 NHTSA (National Highway Traffic Safety Administration) report that motorcyclist fatalities occurred nearly 28 times more frequently than passenger car occupant fatalities in traffic crashes. EU statistics show similar data.
Ride Vision has overcome the technological, cost and size limitations preventing ADAS life-saving solutions for motorcycles until now. Ride Vision’s CAT™ - Collision Aversion Technology is a fusion of a neural network based deep learning platform and computer vision that enables an accurate, affordable, life-saving solution for any motorcycle, without the need for complex hardware or expensive cameras. CAT™ sensors detect threats beyond the rider’s sight, predict risk and highlight the relevant threat for the rider, all in 100s milliseconds - one-tenth of a second. This life-saving technology for the new and experienced rider provides almost instant 360º collision protection without distracting the rider’s focus.
"While ADAS accident prevention technologies have become standard in cars, there is great potential to solve this problem for the underserved motorcycle market that accounts for 17% of all driver and passenger traffic fatalities, said Yoav Leitersdorf, managing partner at YL Ventures. "Uri and Lior are a very strong team and avid riders themselves, uniquely poised to serve this great market challenge with cutting-edge computer vision and deep learning."
According to 2018 Statista figures, 132.4 million motorcycle units will be sold worldwide in 2018, and a Fact.MR 2017 research report shows that the global motorcycle market will reach $150 billion in 2022. NHTSA reported 5,286 fatal motorcycle crashes in 2016 in the U.S. alone, a 5.1% increase from 2015.
"The company’s vision-based collision avoidance system will enable a whole new era for motorcycles, increasing their safety and providing an improved riding experience. We are thrilled to join their journey to become leader in this first of many highly attractive markets for their groundbreaking Collision Aversion Technology," Leitersdorf added.
Published by Globes [online], Israel business news - www.globes-online.com - on June 14, 2018
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