Foretellix, a cutting-edge auto-tech safety company based in Israel, has just completed the first phase of its Series C funding round, raising a whopping $43 million. Led by 83North, this investment will be used to advance Foretellix's Safety-Driven Verification and Validation Platform (Foretify), which tackles the biggest obstacle to the safe and widespread deployment of Automated Driving Systems (ADS) and Advanced Driver Assistance Systems (ADAS).
Foretellix's innovative platform, which prioritizes safety, has already been embraced by major players in the automotive, trucking, and mining industries. Some of their clients include Torc, a Daimler Truck subsidiary, and Volvo Group, among others. Moreover, Foretellix has formed crucial partnerships with simulation powerhouses like Nvidia, IPG, dSPACE, VIRES, AI Motive, and Cognata to offer a comprehensive solution for verification and validation.
Foretellix's platform has become the go-to choice for engineers at OEMs, Tier-1 suppliers, and Autonomous Vehicle (AV) stack providers during the AV/ADAS development cycle. This new funding round is expected to accelerate the development and deployment of Foretellix's Automated Driving Systems, and further strengthen their global presence.
According to Foretellix CEO Ziv Binyamini, this funding will enable the company to meet the growing demand for its solutions, expand its reach around the world, and speed up the realization of its vision of safe autonomy.
With this latest infusion of capital, Foretellix has raised over $93 million. Other investors who participated in the funding round include Woven Capital and Nvidia, along with Artofin VC and major existing shareholders like Nationwide, MoreTech, Volvo Group VC, and Jump Capital.
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