AAA Perceptive makes $16m series A round certain

Perceptive makes $16m series A round certain

US-based behavioural prediction software developer Perceptive Automata has secured $16m in a series A round featuring carmakers Hyundai Motor Company and Toyota, the latter through its Toyota AI Ventures unit.

The oversubscribed round was led by venture capital firm Jazz Venture Partners, with participation from First Round Capital, Slow Ventures and undisclosed other investors.

Founded in 2015, Perceptive Automata is developing software for autonomous vehicles that assists the cars in forecasting the likely actions of other motorists as well as pedestrians and cyclists.

The technology applies artificial intelligence and deep learning algorithms to theories of behavioural science to understand how other road users are likely to operate.

John Harris, co-founder and general partner of Jazz Venture Partners, will join Perceptive’s board of directors while First Round partner Phin Barnes has taken a board observer position.

Perceptive had previously received $3m in a seed round disclosed when it emerged from stealth in July this year. The round was led by First Round Capital, and the company also identified Slow Ventures as an existing investor in the latest round.

John Suh, vice-president at Hyundai’s corporate venturing unit, Cradle, said: “Perceptive Automata is developing key artificial intelligence that can be applied to autonomous vehicles and robots, which will advance the self-driving ecosystem.

“We were excited when we first learned about Perceptive Automata’s approach and we very much look forward to supporting the team’s efforts.”

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