Foretellix, a Tel Aviv, Israel-based provider of automating the testing, verification, and validation for automated driving systems (ADAS and AV) platform, raised $32M in Series B funding.
The round was led by MoreTech Ventures, with participation from Volvo Group Venture Capital, Nationwide, NI, and Japan-Israel High Tech Ventures. In addition, all series A investors, including 83North Ventures, Jump Capital, OurCrowd and NextGear participated.
The company intends to use the funds to expand the adoption of its platform and products.
Company: Foretellix Ltd
Raised: $32.0M
Round: Series B
Funding Month: September 2021
Lead Investors: MoreTech Ventures
Additional Investors: Volvo Group Venture Capital, Nationwide, NI and Japan-Israel High Tech Ventures, 83North Ventures, Jump Capital, OurCrowd and NextGear
Company Website: https://www.foretellix.com/
Software Category: ADAS and AV
About the Company: Founded in 2018 by Ziv Binyamini, CEO and co-founder, Foretellix provides a platform that automates the testing, verification, and validation for automated driving systems (ADAS and AV). The company uses a quantifiable approach to safety and hyper-automation to create and test all possible scenarios these systems may encounter, along with big data analytics to ensure the safety and completeness of the testing processes. This platform is used throughout the development cycle, from the requirements stage through product development, verification, and validation. Foretellix is now commercially engaged with dozens of the largest names in the automotive industry, including Volvo Group and DENSO Corporation.
Source: https://www.finsmes.com/2021/09/foretellix-raises-32m-in-series-b-funding.html