What’s Happening
Foretellix, a leader in safety-driven verification and validation solutions for Automated Driving Systems (ADS) and Advanced Driver Assistance Systems (ADAS), has raised $43 million in the first closing of its Series C funding round. The funding round, led by 83North, includes participation from Woven Capital, NVIDIA, and Artofin VC, as well as major existing shareholders like MoreTech, Nationwide, Volvo Group VC, and Jump Capital. This investment brings Foretellix’s total raised capital to over $93 million.
Why It Matters
Foretellix’s mission is to remove the largest barrier to the safe large-scale deployment of automated driving systems. The company is experiencing growing demand for its solutions, and the new funding will enable it to expand its product portfolio, accelerate its vision for safe autonomy, and extend its worldwide reach.
Key Points
Foretellix has developed the Foretify Safety-Driven Verification & Validation (SDV) Platform, which is used by automotive, trucking, and mining customers, including Volvo Group, Torc (a Daimler Truck subsidiary), and many others. The platform accelerates the development and deployment of Automated Driving Systems through partnerships with major simulation companies like IPG, NVIDIA, dSPACE, VIRES, AI Motive, and Cognata.
The Foretify platform comprises multiple products, including Foretify Core™, Foretify Developer™, Foretify Manager™, Foretify LogIQ™, and Foretify V-Suite™. These products are designed to help engineers at OEMs, Tier-1 suppliers, and Autonomous Vehicle (AV) stack providers throughout the AV/ADAS development cycle. Foretellix has also played a leading role in the development of the ASAM OpenSCENARIO® 2.0 (OSC2.0) standard, which revolutionizes how safety is developed and tested in Automated Driving Systems.
Bottom Line
With $43 million in Series C funding, Foretellix will be able to accelerate the development of its expanding product portfolio and fuel expansion across new geographies. By partnering with Woven by Toyota and NVIDIA, the company is well-positioned to advance automated driving technologies and ensure the safety and performance of autonomous systems in the rapidly evolving mobility landscape.
