Tel-Aviv, Israel and Sunnyvale, CA., May 2, 2023 – Foretellix, the leading provider of safety-driven verification and validation solutions for Automated Driving Systems and Advanced Driver Assistance Systems (ADAS), announced today it has raised $43 million in the first closing of its Series C funding round led by 83North, bringing its total raised capital to over $93 million. Woven Capital, the growth fund of Toyota, and NVIDIA joined the financing round, along with Artofin VC. All major existing shareholders participated, including MoreTech, Nationwide, Volvo Group VC, and Jump Capital. Foretellix will use the funding to accelerate development of its expanding product portfolio and fuel expansion across new geographies.
“We are thrilled to have Woven by Toyota and NVIDIA as strategic partners,” said Ziv Binyamini, Foretellix CEO and Co-Founder. “Foretellix is addressing the largest barrier for safe large-scale deployment of automated driving systems. The new funding will help us to address the growing demand for our solutions, extend our worldwide reach, and accelerate our vision for achieving safe autonomy.”
“At Woven by Toyota, we’re on a mission to deliver the world’s safest, most intelligent, and human-centric mobility solutions,” said George Kellerman, Vice President, Investments and Acquisitions for Woven by Toyota, and Managing Director of Woven Capital. “Verification and validation technology plays a critical role in ensuring the safety and performance of innovative autonomous systems that are accelerating the future of mobility. Foretellix is a leading player in this space, and we are excited to work together to advance automated driving technologies.”
Foretellix’s Safety-Driven Verification & Validation (SDV) Platform – Foretify™ is used by Automotive, Trucking, and Mining customers, including Volvo Group, Torc – a Daimler Truck subsidiary, and many others, to accelerate the development and deployment of their Automated Driving Systems. Foretellix established partnerships with major simulation companies, including IPG, NVIDIA, dSPACE, VIRES, AI Motive, and Cognata, providing its customers with a comprehensive verification and validation (V&V) solution.
The Foretify platform is used by engineers at OEMs, Tier-1 suppliers, and Autonomous Vehicle (AV) stack providers throughout the AV/ADAS development cycle. The platform consists of multiple products:
Foretellix led the ASAM OpenSCENARIO® 2.0 (OSC2.0) standard development revolutionizing how safety is developed and tested in Automated Driving Systems. Foretellix contributed key syntax and concepts to ASAM, and it continues to lead further enhancements of the standard. The Foretify platform is the industry’s first solution offering native OSC2.0 support.
For more information about Foretellix, visit www.foretelllix.com, or email firstname.lastname@example.org
Foretellix is the leading provider of safety-driven verification and validation solutions for Automated Driving Systems and ADAS. Foretellix’s Foretify™️ platform helps automotive, trucking, and mining customers to ensure safety, reduce development costs, and accelerate time-to-market. Foretellix is headquartered in Israel, with offices in the US, Europe, and Asia. For more information, visit http://www.foretellix.com
Scott Fosgard | email@example.com | +1 734-272-7440
We’ll get back to you as soon as possible.