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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 lots of corporations within the autonomous car area, Phantom AI is hoping to set itself aside from others with its distinctive technique. The corporate goals to shortly 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 effectively earlier than totally driverless vehicles attain the roads.
“This funding validates investor confidence in not solely our mission to save lots of lives by way of revolutionary visible notion know-how but in addition our capacity to execute on this mission,” Cho stated in a launch. “We’re targeted on growing and increasing our product choices, enhancing our advertising and marketing and gross sales efforts and accelerating our enterprise progress with the aim to present clients the absolute best multi-camera imaginative and prescient options available in the market.”
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New traders taking part within the spherical included InterVest, Shinhan GIB and Samsung Ventures. The Sequence C spherical additionally included current traders KT Funding and Renaissance Asset Administration.
“It is a very thrilling time for Phantom AI as clients are recognizing the essential function driver-assisted know-how performs in making cars safer for everybody,” Jay Jinhwan Jeon of InterVest, the lead investor on this spherical, stated in a launch. “We’re thrilled to accomplice with Phantom AI right now to assist carry this necessary know-how 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 embody Tier 1 automotive producers which are all for integrating lower-level autonomy methods of their automobiles that can ship full autonomy sooner or later.
