Foretellix, an Israeli startup founded in 2018, has raised $14 million in a Series A funding round led by 83North, Jump Capital, and Nextgear Ventures.
Foretellix developed a comprehensive verification framework for intelligent autonomous systems (IAS), with a focus on autonomous vehicles.
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The startup says it is providing leading developers of autonomous vehicles “with the ability to realize and demonstrate the extremely high level of safety required to unleash the full potential of the autonomous revolution. Foretellix develops coverage driven verification solutions to ensure that the autonomous vehicle behaves properly in … millions of critical driving scenarios, and are therefore safe for broad deployment.”
“We are excited to work with 83North, Jump Capital and Nextgear Ventures to tackle the largest obstacle to the adoption of autonomous vehicles – safety. This funding will help us accelerate the industry transition from ‘quantity of miles’ to ‘quality of coverage’ and broad deployment”, said Ziv Binyamini, CEO of Foretellix. “These investors also bring Foretellix tremendous knowledge and experience in ramping successful start-ups, enterprise business models, and penetrating the automotive industry.”
Foretellix, founded by CEO Ziv Binyamini, CTO Yoav Hollander, and VP Operations and Business Development Gil Amid, says the new investment “will accelerate Foretellix’s development, customer programs and deployment of its coverage driven verification solution.”
“The automotive industry needs a significantly more powerful solution to ensure safety and confidence in autonomous cars. We believe Foretellix has leveraged and adapted proven technology and methodologies to quickly deliver this solution,” said Gil Goren, General Partner of 83North.