A total of U$43m has been raised by Foretellix – a provider of safety-driven verification and validation solutions for automated driving systems and advanced driver assistance systems (ADAS) – in the first closing of its Series C funding round. The total raised capital now stands at more than U$93m.
The funding round included existing investors and new partners, including of Atrofin VC, Nvidia and Woven Capital, the growth fund of Toyota. The funding will be used by Foretellix to speed up the development of its expanding product portfolio across new markets.
Foretify, Foretellix’s Safety-Driven Verification & Validation (SDV) platform, is used by automotive, mining and trucking customers to accelerate the development and the deployment of their automated driving systems. Foretellix worked with IPG, Nvidia, dSPACE, VIRES, AI Motive and Cognata to deliver an extensive verification and validation solution (V&V).
The Foretify platform is used throughout the development cycle and consists of multiple products, including: Foretify Developer, a scenario and test development and debug tool; Foretify Manager, a V&V management and big data analytics tool; Foretify Core, a hyperscale virtual test generation and execution engine; Foretify LogIQ, a scenario-based drive log analysis tool; and Foretify V-Suite, a ready-to-use V&V library that accelerates customers’ projects.
“We are thrilled to have Woven Capital, Nvidia and Artofin as strategic partners,” said Ziv Binyamini, CEO and co-founder, Foretellix. “Foretellix is addressing the largest barrier for safe large-scale deployment of automated driving systems. The new funding will help us to address the growing demand for our solutions, extend our worldwide reach, and accelerate our vision for achieving safe autonomy.”
“Simulation technology is crucial in ensuring the safety and performance of cutting-edge technologies that drive progress and shape the future of mobility,” said Betty Bryant, principal, Woven Capital. “Foretellix’s industry leading verification and validation proficiency, combined with their innovative technology, has impressed us deeply. We’re dedicated to supporting the development of safe, reliable automated driving and ADAS applications that can benefit individuals, businesses and society worldwide. We look forward to contributing to the growth and success of Foretellix as they continue to drive innovation in the industry.”
For the latest information on Foretify LogIQ, click here.