Israeli startup Foretellix, which offers a platform for automating the testing, verification and validation for automated driving systems (ADAS and AV), raised $32 million in a series B funding round led by MoreTech Ventures, with participation from several strategic investors, including Volvo Group Venture Capital. The round brought Foretellix’s total investment to date to just over $50 million.
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Foretellix states that it is enabling the Digital Transformation of safety-critical automotive verification. The company boasts that its solutions uniquely scale to meet the challenge of verifying the safety of today’s increasingly complex driving systems. Foretellix was founded by a team of pioneers in measurable verification and validation combined with a highly automated and proven Coverage Driven Verification methodology broadly adopted in the semiconductor industry.
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The Foretify platform, boasts the company, allows for a significant reduction in cost of failure by identifying bugs, edge cases and unknowns early in the development cycle. Foretify reduces unnecessary recalls, as well as lowering the cost of testing by providing unparalleled productivity gains through automation. It also allows for a reduction in time to deployment of ADAS and automated driving functions by utilizing proven coverage-driven methodologies.
“This additional funding round is an important milestone in our journey as a company and will help us address the growing demand for our platform and products,” says Ziv Binyamini, CEO and co-founder of Foretellix. “The support of our strategic partners Volvo Group, Nationwide and NI will help Foretellix to further advance its mission to enable the safe deployment of advanced automated driving systems.”
