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ADAS

Foretellix raises US$85m in Series C closing

Izzy WoodBy Izzy WoodDecember 8, 20232 Mins Read
Left to right: Ziv Binyamini, CEO and co-founder; Yoav Hollander, CTO and founder; Gil Amid, chief regulatory affairs officer, VP operations and co-founder, Foretellix
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Foretellix, a company specializing in safety-focused verification and validation (V&V) solutions for ADAS and AD, has concluded a Series C funding round, securing US$85m and bringing the total capital raised to US$135m.

The funding was led by 83North, with participation from new investors Temasek and Isuzu, alongside existing supporters such as Woven Capital (Toyota’s growth fund), Nvidia, Artofin, MoreTech, Nationwide, Volvo Group VC, Jump Capital, Next Gear Ventures and OurCrowd.

Foretellix plans to use the funds to expedite the development of its expanding product line-up and meet the increasing global demand for its solutions. The company aims to play a pivotal role in overcoming challenges hindering the safe deployment of autonomous vehicles on a large scale, while simultaneously reducing development costs.

Ziv Binyamini, CEO and co-founder of Foretellix, spoke of his enthusiasm for the involvement of Temasek and Isuzu as investors, and emphasized Foretellix’s commitment to advancing V&V technology and methodology: “This funding round will secure our long-term sustained growth. It will help extend our product line for real-world and synthetic driving scenarios and the development of new AI capabilities.”

Isuzu’s vice president of engineering, Hiroshi Sato, underscored the importance of safety verification and validation in the responsible development of autonomous vehicles: “Foretellix’s advanced technology in automated scalable scenario generation, and their leadership position in the OpenSCENARIO 2.0 standard, are key assets for Isuzu. Collaborating with Foretellix’s senior management and engineers is a great opportunity, and a major advantage, for Isuzu’s autonomous vehicle development.”

Foretellix’s safety-driven V&V platform, Foretify, is employed by automotive, trucking and mining clients globally to expedite the development and deployment of their automated driving systems. The platform integrates real-world test drives and virtual simulation into a unified V&V flow, facilitating collaboration and efficiency for development, testing and safety engineers at OEMs, Tier 1 suppliers and autonomous vehicle providers throughout their projects.

The company continues to contribute to standard enhancements, and its Foretify platform stands out as the industry’s first solution offering native OSC2.0 support.

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