Smart car vision co Brodmann17 raises $11m

vehicle technology  image: Shutterstock - ASAP Creative

The Israeli company is focusing on AI software, offering deep learning perception technology that can run on any hardware, including low-power processors.

Israeli vision-first technology for automated driving developer Brodmann17 today announced that it raised an $11 million Series A financing round led by OurCrowd and with the participation of Maniv Mobility, AI Alliance LLC, UL Ventures, Samsung NEXT, and Sony Innovation Fund. With the funding, Brodmann17 will expand partnerships, accelerate integration of its deep learning solution with customers, and continue its mission to put efficient, powerful automated driving capabilities in every vehicle.

While other companies are relying on AI-based vision technology. hardware that is bulky, costly, and power-inefficient, Brodmann17 is focusing on software, offering deep learning perception technology that can run on any hardware, including low-power processors.

Co-founded in 2016 by serial entrepreneurs CEO Adi Pinhas, Dr. Amir Alush, and Assaf Mushinsky, the company has built groundbreaking deep learning algorithms from the ground up to provide state-of-the-art accuracy while consuming a fraction of the compute power. The highly robust software stack, developed by the company's team of top AI researchers and automotive experts, is currently being tested by OEMs and Tier 1 suppliers worldwide, bringing ADAS from the premium to the mass market to make roads safer.

Pinhas said, "We're excited that our strategic investors, many of whom are already leaders in the field of AI, have understood the game-changing ability of our innovative technology to bring automated driving to the mainstream on any hardware. As the demand for ADAS rises, we will continue partnering with leading automotive industry stakeholders."

OurCrowd senior partner Eli Nir said, "We are convinced that Brodmann17 is one of the best deep AI companies out there. The company has a very experienced management team and exceptional technical leadership that has created a major leapfrog in the fundamentals of AI algorithms. Brodmann17's technology opens the doors for low computation implementation of AI - significantly lowering cost, complexity, and price, and can be used over many sectors and industries. We are very excited to lead this round and take part in the future success of the company."

Published by Globes, Israel business news - en.globes.co.il - on March 6, 2019

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

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vehicle technology  image: Shutterstock - ASAP Creative
vehicle technology image: Shutterstock - ASAP Creative
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