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Autobrains, a Tel Aviv-based developer of autonomous driving technology, today raised $101 million in Series C funding. The round was led by Temasek, a global investment company headquartered in Singapore.
Formerly known as Cartica AI, the company is developing its Cartex platform for Level 1-4 autonomous vehicles. The modular platform allows customers to select different features based on needs. The company said its technology takes a different approach to deep learning than traditional systems.
Autobrains claims its unsupervised AI doesn’t need the massive amount of data and labeling typically needed by deep learning systems. Instead, the system maps raw, real-world data to compressed signatures to identify concepts and scenarios for decision-making. Autobrains said this results in a single representation of space and advanced perception and understanding of the contextual elements of driving scenarios. By reducing reliance on labeled data, Autobrains said its technology requires less computing power and can be produced at a lower cost than current approaches.
The funding will help Autobrains scale its technology and reach new markets.
“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,” said Igal Raichelgauz, CEO, Autobrains. “With this latest round of funding, we’re excited to grow our commercial reach and bring self-learning AI to additional markets.”
“This funding round is an exciting milestone for Autobrains and further validation for our self-learning AI solution to ADAS and autonomous driving,” said Karl-Thomas Neumann, chairman, Autobrains. “The future of mobility will be powered by intelligent AI. Along with new and existing partners, we will bring self-learning AI to additional global markets, expand our commercial reach, and continue developing as the leading AI technology company enabling safer assisted driving capabilities and higher levels of automation for next generation mobility.”
Additional participants in Autobrains’ Series C round include new investors Knorr-Bremse AG, a leading automotive player and VinFast, a fast-growing flagship Vietnamese car manufacturer, as well as existing investor BMW and long-term strategic partner, Continental AG.