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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 Sequence C funding, bringing the corporate’s whole funding to $80.2 million since its begin in 2017.
Whereas there are numerous firms 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 referred to as PhantomVision, 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 2 met whereas each working at Tesla. They found that they’d an curiosity within the potentialities of early ADAS know-how and its capability to convey autonomous know-how to market effectively earlier than totally driverless vehicles attain the roads.
“This funding validates investor confidence in not solely our mission to avoid wasting lives by modern visible notion know-how but additionally our means to execute on this mission,” Cho mentioned in a launch. “We’re targeted on creating and increasing our product choices, enhancing our advertising and gross sales efforts and accelerating our enterprise progress with the purpose to present clients the absolute best multi-camera imaginative and prescient options available in the market.”
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New traders collaborating within the spherical included InterVest, Shinhan GIB and Samsung Ventures. The Sequence C spherical additionally included present traders KT Funding and Renaissance Asset Administration.
“This can be a very thrilling time for Phantom AI as clients are recognizing the important function driver-assisted know-how performs in making cars safer for everybody,” Jay Jinhwan Jeon of InterVest, the lead investor on this spherical, mentioned in a launch. “We’re thrilled to associate with Phantom AI right now to assist convey this necessary 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 might be involved in integrating lower-level autonomy programs of their autos that can ship full autonomy sooner or later.