Autobrains, an Israeli transportation field startup, raised $101 million in Series C financing led by Temasek, a global investment company headquartered in Singapore. Autobrains uses artificial intelligence AI technology for assisted and autonomous driving.
Israel Startup Nation continues to be at the forefront of new transportation technologies. Everyone knows about Mobileye, which offers tech that makes driving safer by using warning systems that utilize video cameras placed around a vehicle. In September, Mobileye launched a new self-driving taxi in Germany.
“By reducing reliance on labeled data, Autobrains’ technology requires far less computing power and can be produced at a fraction of the cost of current deep learning systems on the market.”
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at firstname.lastname@example.org.
Optibus is an Israeli firm that offers a software platform for public transportation planning, scheduling, and rostering. It is currently partnering with GreenRoad Technologies, a safety telematics company, to increase passenger safety and comfort. Optibus and GreenRoad say that they will do so by bringing historical road safety data into the earliest phases of transportation planning.
Autobrains declares that its self-learning AI operates in a fundamentally different way from traditional deep learning systems. Based on multi-disciplinary research and development, self-learning AI does not require the ”massive brute force data and labeling” typical of deep learning AI, explains the company. Instead, the system maps raw, real-world data to compressed signatures to identify concepts and scenarios for optimal decision-making.
This, says Autobrains, results in a single representation of space and advanced perception and understanding of the contextual elements of driving scenarios, leading to superior performance in the most challenging edge cases.
“The promise of fully autonomous vehicles can feel like its perpetually five years away, but not for Autobrains,” said Igal Raichelgauz, CEO of Autobrains. “Our self-learning AI technology will bring full autonomy closer to the present. By reducing the need for manually labeled training data that feed systems which miss or misinterpret the most challenging scenarios, our technology is more agile and on a steeper trajectory than our competitors’ systems. With this latest round of funding, we’re excited to grow our commercial reach and bring self-learning AI to additional markets.”
Karl-Thomas Neumann, Chairman at Autobrains also said, “This funding round is an exciting milestone for Autobrains and further validation for our self-learning AI solution to ADAS and autonomous driving. The future of mobility will be powered by intelligent AI. Along with new and existing partners we will bring self-learning AI to additional global markets, expand our commercial reach, and continue developing as the leading AI technology company enabling safer assisted driving capabilities and higher levels of automation for next generation mobility.”