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Phantom AI, a Mountain View, California-based developer of an autonomous driving platform, introduced it introduced in $36.5 million in Series C funding, bringing the corporate’s complete funding to $80.2 million since its begin in 2017.
While there are various corporations within the autonomous car house, Phantom AI is hoping to set itself aside from others with its distinctive technique. The firm goals to shortly democratize autonomous driving by advancing ADAS applied sciences. Phantom AI’s product choices embrace a pc imaginative and prescient system referred to as PhantomImaginative and prescient, a sensor fusion referred to 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 two met whereas each working at Tesla. They found that that they had an curiosity within the potentialities of early ADAS expertise and its capability to deliver autonomous expertise to market nicely earlier than totally driverless vehicles attain the roads.
“This funding validates investor confidence in not only our mission to save lives through innovative visual perception technology but also our ability to execute on this mission,” Cho mentioned in a launch. “We’re focused on developing and expanding our product offerings, enhancing our marketing and sales efforts and accelerating our business growth with the goal to give customers the best possible multi-camera vision solutions in the market.”
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New buyers taking part within the spherical included InterVest, Shinhan GIB and Samsung Ventures. The Series C spherical additionally included current buyers KT Investment and Renaissance Asset Management.
“This is a very exciting time for Phantom AI as customers are recognizing the critical role driver-assisted technology plays in making automobiles safer for everyone,” Jay Jinhwan Jeon of InterVest, the lead investor on this spherical, mentioned in a launch. “We’re thrilled to partner with Phantom AI at this time to help bring this important technology to the market.”
Phantom AI plans to make use of the funding to speed up its present collection manufacturing growth with main OEMs. Its clients embrace Tier 1 automotive producers which might be excited about integrating lower-level autonomy programs of their autos that can ship full autonomy sooner or later.