Funding to Assist Gas Superior Driver-Help Methods Designed to Save Lives

MOUNTAIN VIEW, Calif., Feb. 1, 2023 /PRNewswire/ — Phantom AI, a Silicon Valley startup offering a complete autonomous driving platform that includes pc imaginative and prescient, sensor fusion and management capabilities, in the present day introduced that it has secured $36.5 million in its Series C funding spherical. Present traders embrace KT Funding and Renaissance Asset Administration with new traders InterVest, Shinhan GIB, and Samsung Ventures taking part in this spherical.

“This is a very exciting time for Phantom AI as customers are recognizing the critical role driver-assisted technology plays in making automobiles safer for everyone,” mentioned Jay Jinhwan Jeon of InterVest, the lead investor in this spherical. “We’re thrilled to partner with Phantom AI at this time to help bring this important technology to the market.”

Phantom AI is targeted on serving to prospects scale back accidents and make day by day driving extra pleasant whereas unlocking what’s subsequent for ADAS. Whereas many firms in the present day are centered on constructing the Robotaxis of the world, Phantom AI believes that the higher strategy to construct autonomous autos and advance the way forward for sensible vehicles is to democratize the usage of lifesaving ADAS applied sciences, just like how seatbelts have been adopted and mainstreamed for the reason that late 1800s.

The brand new spherical will likely be used to speed up the present collection manufacturing improvement with main OEMs. With this new spherical, the corporate has raised a complete of $80.2 million since its founding in 2017.

“This funding validates investor confidence in not only our mission to save lives through innovative visual perception technology but also our ability to execute on this mission,” mentioned Hyunggi Cho, Phantom AI’s co-founder and CEO. “We’re focused on developing and expanding our product offerings, enhancing our marketing and sales efforts and accelerating our business growth with the goal to give customers the best possible multi-camera vision solutions in the market,” added Cho.

The ADAS market is rising and poised for continued progress in the approaching years regardless of present financial challenges. Authorities assist for the event and implementation of ADAS applied sciences will assist mitigate the affect of the downturn on startups like Phantom AI. 

“This is quite a contrast to L4/L5 full automation areas like Robotaxis, Robo-shuttle, and Autonomous Trucking, where investments scaled back as the automotive community realized that L4/L5 is not easily commercialized for the next few years,” mentioned Cho.

Phantom AI was based in 2017 by Hyunggi Cho and Chan Kyu Lee, two Korean-born technologists who met at Tesla’s cafeteria a yr earlier and shared their mutual need to unlock the potential they noticed in early ADAS expertise. Six months later, Cho left Tesla together with Lee to pursue their dream of creating roads secure for everybody.

“Phantom AI’s ADAS platform is filling an important market need for highly innovative, effective and affordable driver-assisted technology that is difficult to find in the market today,” mentioned a consultant from Samsung Enterprise Funding Company. “The ADAS market remains strong and we see unlimited opportunity for technologies that support autonomous vehicles especially as they become more mainstream.”

About Phantom AI

Phantom AI’s mission is to democratize the usage of superior driver-assistance methods (ADAS) to scale back accidents, save lives and make driving extra pleasant, whereas delivering tomorrow’s self-driving expertise. Based by a workforce with deep automotive and AI experience, Phantom AI offers a complete autonomous driving platform that includes pc imaginative and prescient, sensor fusion and management capabilities. Phantom AI has created probably the most correct and highest-performing AI options out there in the present day that meet automobile producer necessities, at a a lot lower cost than current options.

Phantom AI Social Media: Twitter || LinkedIn


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The Obsessed Guy
Hi, I'm The Obsessed Guy and I am passionate about artificial intelligence. I have spent years studying and working in the field, and I am fascinated by the potential of machine learning, deep learning, and natural language processing. I love exploring how these technologies are being used to solve real-world problems and am always eager to learn more. In my spare time, you can find me tinkering with neural networks and reading about the latest AI research.


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