CorrActions, an Israel-based AI-based driver safety startup, has secured $7.25 million in Series A funding.
SaaS Investors
The investment was led by Volvo Cars Tech Fund, with participation from BlackBerry and other venture capital firms, including Next Gear Ventures, Mobilitech Capital, Regah Ventures, OurCrowd, NextLeap Ventures, and Stone Ventures.
Founded in 2018, Volvo Cars Technology Fund is the corporate venture capital fund of Volvo Cars based in Gothenburg, Sweden. The firm prefers to invest in the transportation and mobility sectors.
About CorrActions
Founded in 2019 by Dr. Eldad Hochman, and Zvi Ginosar, CorrActions has developed AI-based software that detects abnormalities in the cognitive state of drivers and passengers by analyzing micro muscle movements. CorrActions provides a software-only, motion-based, driver monitoring product. The software can identify cognitive states such as driver intoxication, fatigue, and distraction. CorrActions software can be implemented in consumer vehicles through Over-the-Air (OTA) software updates, including through the BlackBerry IVY vehicle platform, and does not require or capture any Personal Identifiable Information (PII) to assess the driver's cognitive state.
Funding Details
Company: CorrActions
Raised: $7.25M
Round: Series A
Funding Month: December 2023
Lead Investors: Volvo Cars Tech Fund
Additional Investors: BlackBerry, Next Gear Ventures, Mobilitech Capital, Regah Ventures, OurCrowd, NextLeap Ventures, and Stone Ventures
Company Website: https://www.corractions.com/
Software Category: Driver Monitoring
Source: https://www.calcalistech.com/ctechnews/article/r1gz000hu6