AImotive receives funding to further self-driving technology

AImotive, a Hungarian startup developing self-driving car technology that relies on cameras, instead of Lidar laser sensors, to detect cars, obstacles, and signs, has received funding, led by B Capital Group and Prime Ventures, will be used to increase global scale and accelerate autonomous driving software via simulation technology.

AImotive, the full-stack autonomous vehicle technology company, has announced the closing of its USD 38 million (EUR 32 million) Series C funding round, led by B Capital Group and Prime Ventures, with participation from Cisco Investments, Samsung Catalyst Fund, and Series A and B investors Robert Bosch Venture Capital, Inventure, Draper Associates and Day One Capital.

A statement by the company says it will use this new round of funding to continue developing its proprietary autonomous driving technology, which relies primarily on affordable, off-the-shelf camera sensors and artificial intelligence-based vision processing. AImotive's technology is inherently scalable, due to its low cost modularity and flexibility, while also open to the fusion of non-vision based sensors for additional safety in poor visibility conditions. With relatively little additional cost, AImotive's software can be ported into various car models, driving in diverse locations around the world.