US-based driving software developer Phantom AI has secured $22m in a series A round featuring automotive manufacturer Ford Motor Company and telecommunications firm KT.
Family office Celeres Investments led the round, which included investment firm Millennium Technology Value Partners and venture capital firm DSC Investment. The latter two were billed as existing investors and Phantom said the funding followed a $5m seed round.
Phantom has created a software platform that enables carmakers and automotive component producers to integrate advanced driver assistance systems (ADAS) technology into their products in order to increase driver safety.
The company’s offering includes a computer vision system that incorporates a host of ADAS features, in addition to a sensor fusion and vision-tracking tool and vehicle control technology.
Hyunggi Cho, Phantom’s co-founder and chief executive, said: “We founded Phantom AI to fundamentally change the economics of ADAS by developing modern software-based solutions that are high performing, cost effective, and infinitely flexible and customisable.
“To the automakers frustrated with the lack of options in computer vision technologies, Phantom AI is here to help. We are thrilled to bring our AI-based perception technology, including computer vision, sensor fusion and control capabilities to market, and to have the support of our new investors to help us accelerate production globally.”
