Phiar Technologies, a Redwood City, California-based market leader in AI-powered Augmented Reality navigation for driving, closed $12 million in Series A funding round and the hiring of new CEO Gene Karshenboym, formerly Google's Global Head of Android Automotive Platforms.
The round was led by State Farm Ventures, new investors Cambridge Mobile Telematics and Telenav, and previous investors Norwest Venture Partners, The Venture Reality Fund, and GFR Fund also participated in the round.
The funding will further accelerate Phiar’s business with OEMs and Tier-1 partners in the automotive industry.
Company: Phiar Technologies, Inc.
Raised: $12.0M
Round: Series A
Funding Month: September 2021
Leading Investors: State Farm Ventures
Additional Investors: Cambridge Mobile Telematics, Telenav, Norwest Venture Partners, The Venture Reality Fund, and GFR Fund
Company Website: https://www.phiar.net/
Software Category: AI-Powered AR Navigation Platform
About the Company: Founded in 2017, Phiar Technologies is an ultra-lightweight computer vision AI company and an emerging leader in augmented reality driving navigation technology for the automotive industry. Phiar is building the world's most advanced Ultra-Lightweight Spatial AI Engine to enable every vehicle to see its surroundings, running real-time at the edge, using just commodity mobile-grade processors and existing automotive computing platforms with a single camera. Phiar combines its patented innovations in deep learning AI and AR into a new form of driving navigation platform to enhance safety, facilitate more intuitive wayfinding and connect drivers with their surrounding environments. Phiar is based in Redwood City, California.
Source: https://www.businesswire.com/news/home/20210927005547/en/ADDING-MULTIMEDIA-Phiar-Technologies-Secures-12-Million-Series-A-and-Names-Google-Head-of-Android-Automotive-Platforms-as-CEO