Earlier today, Foretellix, a leading provider of safety-driven verification and validation (V&V) solutions for advanced driver assist systems (ADAS) and automated driving systems, announced that it had closed a Series C funding round of $85 million, which brings the company's total capital raised to $135 million.. 83North was the lead investor in this round of funding. Earlier this year, Temasek and Isuzu became the latest investors to join Woven Capital - the growth fund of Toyota - NVIDIA, and Artofin, which had also participated in the first closing.. There was participation from all major existing shareholders, including MoreTech, Nationwide, Volvo Group Venture Capital, Jump Capital, Next Gear Ventures, and OurCrowd. The funds will be used by Foretellix to accelerate the development of its expanding product portfolio in order to meet the growing demand for its products around the world
The funds will be used by Foretellix to accelerate the development of its expanding product portfolio in order to meet the growing demand for its products around the world
Ziv Binyamini, CEO and Co-Founder of Foretellix said, "We are thrilled to have Temasek and Isuzu join us as investors.".. In terms of V&V technology and methodology, Foretellix is driving a quantum leap forward in the field. The solutions we offer address the biggest barriers to a safe and large-scale deployment of autonomous vehicles while reducing development costs dramatically as well. There is no doubt that we are committed to continuing our partnerships with leading autonomy developers and providing support to our clients.. As a result of this funding round, we will be able to secure our long-term sustained growth. As a result, we will be able to expand our product line to address both real-world and synthetic driving scenarios as well as the development of new artificial intelligence applications."
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'We are delighted to have Temasek and Isuzu join us as investors,' said Ziv Binyamini, Foretellix's CEO and Co-Founder.. In the field of V&V, Foretellix is driving a transformative leap forward in terms of technology and methods. In addition to overcoming the largest barriers to safe large-scale deployment of autonomous vehicles, our solutions dramatically reduce the costs of development as well. As a company, we are committed to continuing our partnership with leading autonomy developers, as well as supporting our customers in the future.. By securing this funding round, we will be able to sustain our growth for a long time to come. We will be able to extend our product line to cover both real-world and synthetic driving scenarios in addition to the development of new AI capabilities as a result of this project
We will be able to extend our product line to cover both real-world and synthetic driving scenarios in addition to the development of new AI capabilities as a result of this project
According to Mr. Takahashi, "Isuzu believes that safety verification and validation are necessary for OEMs to be able to develop safe autonomous vehicles in a responsible way.". Isuzu's Vice President of Engineering, Hiroshi Sato, speaks at the event. I am impressed with Fortetellix's advanced technology in automated, scalable scenario generation, as well as their leadership position in the OpenSCENARIO® 2 environment.For Isuzu, the Isuzu 0 standard is one of its most valuable assets. Having the opportunity to collaborate with Foretellix's executive management team and engineers is a great opportunity, and a major advantage, for Isuzu's autonomous vehicle development program
Having the opportunity to collaborate with Foretellix's executive management team and engineers is a great opportunity, and a major advantage, for Isuzu's autonomous vehicle development program
Foretellix's Safety-Driven V&V Platform, ForetifyTM, is used around the world by Automotive, Trucking, and Mining companies to accelerate the development and deployment of their Automated Driving Systems.. It provides a unified V&V flow that integrates real-world test drives with a virtual simulation in one platform that provides a unified flow for both. It can help development, testing, and safety engineers at OEMs, Tier-1 suppliers, and autonomous vehicle providers to collaborate more effectively and boost their productivity during the development and testing phases of AV and ADAS projects
It can help development, testing, and safety engineers at OEMs, Tier-1 suppliers, and autonomous vehicle providers to collaborate more effectively and boost their productivity during the development and testing phases of AV and ADAS projects
It was Foretellix that developed the ASAM OpenSCENARIO® 2.0 (OSC2.0) standard, which revolutionized the development and testing of safety in automated driving systems. As a leading contributor to the ASAM standard, Foretellix continues to lead standard enhancements. The Foretify platform offers native OSC2.0 support and is the first solution of its kind in the industry.
Foretellix can be found at www.foretellix.com, or by contacting [email protected] for more information.
Foretellix is an industry leader in safety-driven verification and validation solutions for Automated Driving Systems and Advanced Driver Assistance Systems. With Foretellix' ForetifyTM platform, automotive, trucking, and mining customers can ensure safety, reduce development costs, and accelerate time-to-market. Foretellix is based in Israel and has offices in the U.S., Europe, and Asia. For more information, please visit https://www.foretellix.com/.
For media inquiries, please contact George Giles at [email protected]
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