Autobrains, an Israeli AI mobility company, announced that it has secured $120M in a Series C funding round led by Temasek with participation from new investors, including Knorr-Bremse AG, VinFast, and existing investors Continental and BMW i Ventures.
How will the funding be used?
The fund will enable Autobrains to refine its self-learning AI learning technology capabilities and expand into new domains such as trucks. The company also aims to grow its commercial reach into new global markets and expand sites in Asia, Europe, and the US.
“The immense success of this most recent funding round demonstrates that Autobrains is a key player in leading the future of mobility which will be powered by AI,” says Karl-Thomas Neumann, Autobrains’ Chairman. “It’s invigorating to see the degree to which our self-learning AI solutions to ADAS and autonomous driving are transforming the next generation of mobility to create real automation.”
What does Autobrains solve?
2021 witnessed an unprecedented demand for ADAS (Advanced Driver Assistance System) and AVs(Autonomous Vehicles), with trillions of dollars invested into the self-driving industry. Consequently, the demand for safer solutions will grow in the coming years, driven by legislation and NCAP testing.
However, despite great advancements in recent years, the unsolved predicament of self-driving applications continues to be AI technologies’ shortcomings in unusual scenarios.
In general, current market solutions are unable to cover unpredictable edge-cases without more complex, self-learning-based algorithms. Based out of Tel Aviv, Autobrains’ self-learning application thwarts these challenges.
How does it do?
Founded by Igal Raichelgauz, and Karina Odinaev, Autobrains’ have developed advanced driver assistance systems and autonomous driving solutions.
The company’s AI technology is designed to learn like the human brain through neural networks and process information the same way as humans.
Autobrains’ approach enables cars to learn, collaborate and interact with the real world with no supervision, utilising data and scenarios from the car’s surroundings to enable decision-making just like the human brain, in real-time.
Autobrains’ commercial approach applies its open-AI platform, tailored to each of its partners’ specifications. Further, it requires less computing power that is 10x less than existing systems, lower energy consumption, and reduced cost of up to 40%.
“We feel that Autobrains’ technology has parlayed autonomous vehicles into the tangible present, bridging the industry gap with our breakthrough AI technology,” says Igal Rachelgauz, Autobrains’ CEO. “Our newest product offers unparalleled features to any other technology on the market, functioning with a higher degree of accuracy and capability to predict even the most challenging scenarios like school zones, construction sites, even off-roading. Our mission is to become the market leader in providing self-driving solutions that are safer, more affordable with superior performance in edge-cases.”
“Autobrains’ proven self-learning AI technology has the potential to disrupt ADAS and HAD development in the truck industry. The Autobrains video perception software operates in a fundamentally different way from traditional deep learning systems. The Autobrains approach requires fewer data and computing power, which can significantly reduce development times and costs. In addition, it is independent of the underlying hardware,” says Dr. Jan Mrosik, CEO of Knorr-Bremse AG and responsible for the Commercial Vehicle Systems division on an interim basis.
Dr. Jürgen Steinberger, Member of the Management Board of Knorr-Bremse Commercial Vehicle Systems adds: “This groundbreaking technology enables Knorr-Bremse to react quickly and flexibly to the various requirements in the commercial vehicle business, which is characterized by a wide variety of vehicle types with different installation situations and newly upcoming legislation. This flexibility is especially needed for certain markets in Asia. That’s why this strategic investment fits well into our ADAS and HAD strategy for the commercial vehicle sector.”