Foretellix raises $85 million
Foretellix, a provider of verification and validation solutions for automated driving systems and advanced driver assistance systems, has closed a Series C funding round of $85 million, bringing its total raised capital to $135 million.
The funding round was led by 83North, with participation from Temasek, Isuzu, Woven Capital, NVIDIA, Artofin, MoreTech, Nationwide, Volvo Group VC, Jump Capital, Next Gear Ventures, and OurCrowd.
The Tel Aviv-based startup will use the funding to accelerate the development of its product portfolio.
“We are thrilled to have Temasek and Isuzu join as investors. Foretellix is driving a transformative leap forward in V&V technology and methodology. Our solutions address the largest barriers to safe large-scale deployment of autonomous vehicles while dramatically reducing development costs. We are committed to continue our partnerships with leading autonomy developers and supporting our customers. This funding round will secure our long-term sustained growth. It will help extend our product line for real-world and synthetic driving scenarios and the development of new AI capabilities.” – Ziv Binyamini, Foretellix CEO and co-founder.
“Isuzu believes that safety verification and validation is essential for OEMs to responsibly develop safe autonomous vehicles. Foretellix’s advanced technology in automated scalable scenario generation, and their leadership position in the OpenSCENARIO® 2.0 standard, are key assets for Isuzu. Collaborating with Foretellix’s senior management and engineers is a great opportunity, and a major advantage, for Isuzu’s autonomous vehicle development.” – Hiroshi Sato, VP of Isuzu’s Engineering Division.