Tel Aviv-based Autobrains, developer of first-of-its-kind self-learning artificial intelligence (AI) technology for assisted and autonomous driving, has raised $101 million in Series C financing led by Temasek, a global investment company headquartered in Singapore, the company announced Monday.
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Autobrains' self-learning AI operates in a different way from traditional deep learning systems. Based on multi-disciplinary research and development, self-learning AI does not require the massive brute force data and labeling typical of deep learning AI. Instead, the system maps raw, real-world data to compressed signatures to identify concepts and scenarios for optimal decision-making. This results in a single representation of space and advanced perception and understanding of the contextual elements of driving scenarios. By reducing reliance on labeled data, Autobrains' technology requires far less computing power and can be produced at a fraction of the cost of current deep learning systems on the market.
"The promise of fully autonomous vehicles can feel like its perpetually five years away, but not for Autobrains," said Autobrains CEO Igal Raichelgauz. "Our self-learning AI technology will bring full autonomy closer to the present. By reducing the need for manually labeled training data that feed systems which miss or misinterpret the most challenging scenarios, our technology is more agile and on a steeper trajectory than our competitors' systems. With this latest round of funding, we're excited to grow our commercial reach and bring self-learning AI to additional markets."
Additional participants in the round include new investors Knorr-Bremse AG, a leading automotive player and VinFast, as well as existing investor BMW and long-term strategic partner, Continental AG.
