Remote driving co Phantom Auto raises $13.5m

vehicle technology  image: Shutterstock - ASAP Creative

The Israeli company is developing safety solutions for autonomous vehicles by enabling remote driving.

Israeli remote driving company Phantom Auto has raised a $13.5 million Series A led by Bessamer Venture Partners and with the participation of Maniv Mobility. With the latest financing round the company has raised $19 million to date.

Phantom Auto, which is developing safety solutions for autonomous vehicles by enabling remote driving will use the latest financing round to enter the logistics sector by driving forklifts, yard trucks and the like in warehouses and cargo yards.

With offices in Tel Aviv and Mountain View, California, Phantom Auto was founded in 2017 by CEO Shai Magzimof, Chief Business Development Officer Elliot Katz and COO Ohad Dvir.

The company achieves its remote driving capabilities through reliable low latency and high bandwidth communication, which is designed from the ground up to deliver the most stable, redundant, and safe network connection over 4G LTE cellular networks.

Magzimof told "Techcrunch, "“We continue to be designed into our customers’ stacks who are focusing on AVs on public roads, but it will take some time for autonomous passenger vehicles and commercial trucks to be deployed at scale."

Meantime, Phantom Auto is looking to logistics for shorter-term potential.

Published by Globes, Israel business news - en.globes.co.il - on April 23, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

5 Comments
View comments in rows
Update by email about comments talkback
POST
Comments
vehicle technology  image: Shutterstock - ASAP Creative
vehicle technology image: Shutterstock - ASAP Creative
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018