Foretellix co-founders (company pic)
Foretellix, an Israeli startup that offers a platform for automating the testing, verification and validation of automated driving systems (ADAS and AV), raised $43 million from new investors Temasek and Isuzu in the closing of its Series C round of investment which began last May and was led by 83North, bringing the round to a total of $85 million. Foretellix has now raised $135 million to date. This is another good sign that Israel Startup Nation is still moving forward in spite of the Iron Swords War in Gaza.
In the first few weeks after the barbaric October 7 Hamas terror attack, the Shekel fell in value by more than 6% against the USD and other major currencies. But new investments in Startup Nation firms slowly returned and as money started to come back into the country the Shekel rebounded to its pre-war value. So, investments like the new one in Foretellix are a sign that the world still has faith in Israel’s economy.
Founded in 2018 by CEO Ziv Binyamini, CTO Yoav Hollander and chief regulatory affairs officer, VP operations and business development Gil Amid, Foretellix provides a product development testing, verification, and validation platform enabling the mass deployment of autonomous driving systems. Foretellix uses proven approaches from the semiconductor chip industry that utilize hyper-automation, big data analytics, and AI. The company boasts that its platform orchestrates and manages the massive scale of testing required to ensure safety, reduce development costs, and shorten the time-to-market of ADS deployment.
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Foretellix last raised $32 million in a series B funding round led by MoreTech Ventures in September of 2021. The company seems to be following in the footsteps of one of Israel Startup Nation’s biggest success stories Mobileye, which also works in the field of automotive safety and technologies.
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.
“Foretellix is driving a transformative leap forward in V&V technology and methodology,” said Foretellix CEOCEO Ziv Binyamini. “Our solutions address the largest barriers to safe large-scale deployment of autonomous vehicles while dramatically reducing development costs. We are committed to continue our partnerships with leading autonomy developers and supporting our customers. This funding round will secure our long-term sustained growth. It will help extend our product line for real-world and synthetic driving scenarios and the development of new AI capabilities.”
