US-based vision technology developer Brodmann17 has collected $11m in a series A round that included safety technology provider UL and consumer electronics manufacturers Samsung and Sony.
The round also featured AI Alliance, the investment partnership formed by telecommunications firm SK Telecom, carmaker Hyundai Motor Company, artificial intelligence equipment producer Element AI and conglomerate Hanwha Asset Management.
Equity crowdfunding platform OurCrowd led the round, which was filled out by Maniv Mobility and Lool Ventures. UL, Sony and Samsung participated through UL Ventures, Sony Innovation Fund and Samsung Next respectively.
Founded in 2016, Brodmann17 is developing software-based advanced driver-assistance systems (ADAS) that enable autonomous vehicles to detect and process moving objects on a road while consuming only a fraction of a processor’s computing power.
The technology, which can be embedded into computer processing units, is also used for applications such as augmented reality, robotics, home security and smart cities. The funding will support the formation of strategic partnerships and development of the platform’s deep learning capabilities.
Brodmann17 had previously secured $1.6m in a June 2017 seed round co-led by Samsung Next, Sony Innovation Fund and Lool Ventures,
Adi Pinhas, co-founder and CEO of Brodmann17, said: “We are excited that our strategic investors, many of whom are already leaders in the field of AI, have understood the game-changing ability of our innovative technology to bring automated driving to the mainstream on any hardware.
“As the demand for ADAS rises, we will continue partnering with leading automotive industry stakeholders.”