The market for advanced driver assistance systems (ADAS) is growing fast. The EU will require some ADAS features in all European cars from 2022. AutoBrains is entering the ADAS market through a partnership with Continental AG, one of the world’s largest Tier-1 automotive companies. The AutoBrains platform is based on a mature self-learning technology which mimics human perception by fusing together multiple sensor inputs including cameras, LIDAR, radar and audio, to create a single representation of space, enabling the system to handle extreme situations like heavy fog or a torrential downpour. AutoBrains competes directly with Mobileye, an Israeli company acquired by Intel for $15B. AutoBrains technology costs 33% less, using self-learning artificial intelligence technology that requires only 10% of the computing power of Mobileye’s deep-learning approach. Continental AG, a strategic investor and partner, is targeting AutoBrains’ technology for a 50-60 million vehicle market segment over the next 5-6 years and collaborating on next-generation products. AutoBrains has successfully completed proofs of concept with major car manufacturers in Europe and Asia and is in discussions with both. The company has pilots with three additional leading European OEMs. AutoBrains’ impressive team includes Chairman Karl-Thomas Neumann, former CEO of Continental AG, Opel Automobile GmBH, and Volkswagen AG. This $100M round is co-led by two strategic investors: a leading vehicle systems supplier and a leading global investment fund.
