Take heed to this text

Phantom AI, a Mountain View, California-based developer of an autonomous driving platform, introduced it introduced in $36.5 million in Collection C funding, bringing the corporate’s complete funding to $80.2 million since its begin in 2017.

Whereas there are numerous corporations within the autonomous car area, Phantom AI is hoping to set itself other than others with its distinctive technique. The corporate goals to rapidly democratize autonomous driving by advancing ADAS applied sciences. Phantom AI’s product choices embody a pc imaginative and prescient system known as PhantomVision, a sensor fusion known as PhantomFusion, and PhantomDrive, a car management system. 

Hyunggi Cho, now the CEO, and Chan Kyu Lee, now the CTO, co-founded the corporate. The 2 met whereas each working at Tesla. They found that they’d an curiosity within the prospects of early ADAS know-how and its capability to carry autonomous know-how to market nicely earlier than totally driverless automobiles attain the roads.

“This funding validates investor confidence in not solely our mission to avoid wasting lives by way of revolutionary visible notion know-how but in addition our capability to execute on this mission,” Cho stated in a launch. “We’re targeted on growing and increasing our product choices, enhancing our advertising and gross sales efforts and accelerating our enterprise development with the purpose to provide clients the very best multi-camera imaginative and prescient options available in the market.” 

New buyers collaborating within the spherical included InterVest, Shinhan GIB and Samsung Ventures. The Collection C spherical additionally included present buyers KT Funding and Renaissance Asset Administration. 

“This can be a very thrilling time for Phantom AI as clients are recognizing the essential function driver-assisted know-how performs in making vehicles safer for everybody,” Jay Jinhwan Jeon of InterVest, the lead investor on this spherical, stated in a launch. “We’re thrilled to companion with Phantom AI at the moment to assist carry this essential know-how to the market.”

Phantom AI plans to make use of the funding to speed up its present sequence manufacturing improvement with main OEMs. Its clients embody Tier 1 automotive producers which are keen on integrating lower-level autonomy techniques of their autos that may ship full autonomy sooner or later.