[ad_1]
Take heed to this text
Phantom AI, a Mountain View, California-based developer of an autonomous driving platform, introduced it introduced in $36.5 million in Sequence C funding, bringing the corporate’s complete funding to $80.2 million since its begin in 2017.
Whereas there are a lot of corporations within the autonomous car area, Phantom AI is hoping to set itself aside from others with its distinctive technique. The corporate goals to shortly democratize autonomous driving by advancing ADAS applied sciences. Phantom AI’s product choices embody a pc imaginative and prescient system known as PhantomVision, a sensor fusion known as PhantomFusion, and PhantomDrive, a car management system.
Hyunggi Cho, now the CEO, and Chan Kyu Lee, now the CTO, co-founded the corporate. The 2 met whereas each working at Tesla. They found that they’d an curiosity within the prospects of early ADAS know-how and its capability to convey autonomous know-how to market properly earlier than absolutely driverless vehicles attain the roads.
“This funding validates investor confidence in not solely our mission to save lots of lives by modern visible notion know-how but additionally our skill to execute on this mission,” Cho stated in a launch. “We’re targeted on growing and increasing our product choices, enhancing our advertising and marketing and gross sales efforts and accelerating our enterprise progress with the objective to offer prospects the absolute best multi-camera imaginative and prescient options available in the market.”
Robotics Summit & Expo (Could 10-11) returns to Boston
New buyers taking part within the spherical included InterVest, Shinhan GIB and Samsung Ventures. The Sequence C spherical additionally included current buyers KT Funding and Renaissance Asset Administration.
“This can be a very thrilling time for Phantom AI as prospects are recognizing the important position driver-assisted know-how performs in making vehicles safer for everybody,” Jay Jinhwan Jeon of InterVest, the lead investor on this spherical, stated in a launch. “We’re thrilled to associate with Phantom AI right now to assist convey this necessary know-how to the market.”
Phantom AI plans to make use of the funding to speed up its present collection manufacturing growth with main OEMs. Its prospects embody Tier 1 automotive producers which might be occupied with integrating lower-level autonomy techniques of their autos that may ship full autonomy sooner or later.
[ad_2]