Israeli AI Mobility Company Autobrains Raises $101M In Series C Funding

Israeli AI mobility company Autobrains, the developer of a first-of-its-kind self-learning artificial intelligence technology for assisted and autonomous driving, announced Monday that it has raised $101 million in Series C funding round led by Temasek, a global investment company headquartered in Singapore.

Additional participants in the round included new investors Knorr-Bremse AG, a leading automotive player and VinFast, as well as existing investor BMW and long-term strategic partner, German automotive part manufacturer Continental AG.

The announcement reflects the anticipation from global leaders, including Tier 1 suppliers and OEMs, as well as sophisticated investment funds, that Autobrains is disrupting the advanced driver-assistance systems (ADAS) and autonomous vehicle marketplace with its alternative approach to AI for automation. The company will use the funding to grow its commercial reach into new global markets.

Autobrains’ self-learning AI is fundamentally different from other deep learning systems. While it is based on multi-disciplinary research, it is less reliant on massive amounts of data, coupled with a need for less computing power. Instead, the system maps raw, real-world data to compressed signatures to identify concepts and scenarios for optimal decision-making, resulting in the creation of a deep learning system at a fraction of the cost of its competitors.

“The promise of fully autonomous vehicles can feel like it’s perpetually five years away, but not for Autobrains,” said company CEO Igal Raichelgauz. “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.”

“This funding round is… 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,” said Autobrains Chairman Karl Thomas-Neumann.

The face of motoring, beginning in EU countries, is already changing. From mid-2022, EU regulations mandate that more sophisticated ADAS and enhanced autonomy be placed in vehicles. This is one of the reasons why cheaper, smaller cars from all manufacturers will shortly be a thing of the past.

Established in 2019, AutoBrains is a joint venture set up by Israeli startup Cortica and Continental, and includes Toyota AI Ventures, the VC subsidiary of the Japanese car manufacturer’s R&D arm; BMW i Ventures; and Jerusalem-based VC fund OurCrowd.