Autobrains, an Israeli transportation field startup, added another $19 million to close its Series C investment round at a total of $120 million. The round, which was led by Temasek, a global investment company headquartered in Singapore, began with $101 million raised in November. 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. Mobileye will soon go public again.
“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.”
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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 it’s perpetually five years away, but not for Autobrains,” said Igal Raichelgauz, CEO of Autobrains when the company made the first part of the raise. “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 that 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.”