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Potential Motors Inc., a pioneer in automotive technology, has secured an additional $2 million CAD to enhance its AI-powered terrain perception technology. This funding aims to accelerate the commercialization of their innovative solutions across multiple sectors including automotive, powersports, mining, and defense. As the company continues to forge partnerships with leading global automotive manufacturers, the significance of this investment reflects the growing interest and confidence in Potential’s technology.
Key Highlights:
- $2M CAD Funding Boost: This seed round extension adds to the existing $8.5M raised since May 2020.
- Expanding Investor Base: Includes loyal partners like Brightspark Ventures and new participants such as Farpointe.
- Strategic Partnerships: Collaborations with major brands like CFMOTO Powersports Inc and ongoing projects with a global automotive leader.
- Innovative Core Technology: Potential’s Terrain Intelligence software optimizes vehicle control through advanced sensor data interpretation.
The latest investment will be directed towards further research and development as well as piloting new projects with automotive OEMs. Potential Motors, known for its Terrain Intelligence platform, utilizes advanced sensing technologies to proactively adjust vehicle settings in response to varying terrain conditions—enhancing safety, speed, and comfort in challenging environments.
“Potential’s expertise in off-road terrain, computer vision and AI will make vehicles safer, faster, more agile and more comfortable in extreme environments. Our solutions can improve outcomes on the road too, so our technology could be used in all sorts of vehicles,” said Sam Poirier, CEO at Potential. His optimism is echoed by investors who are enthusiastic about the future of AI in improving vehicular technologies.
Mark Skapinker, Managing Partner at Brightspark Ventures, shared, “When we first invested in Potential, we were excited by Sam’s vision of a future where AI and terrain perception technologies play key roles in performance, safety, and efficiency. By renewing our investment, we’re also renewing our vote of confidence in Sam’s leadership and Potential’s technology.”
Jeff White, CEO at NBIF, added, “Sam has already built an impressive team and successful pilots; our new funding commitment demonstrates the continued confidence we have in Sam’s vision and Potential’s opportunities.”
About Potential Potential Motors Inc. is redefining advanced driver-assistance systems for off-road and extreme environments by integrating computer vision and AI. This enables the vehicles to preemptively adjust to upcoming terrain changes, significantly enhancing the driving experience.
For more information, visit www.potentialmotors.com.
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