Perceptive Automata announces $16M in Series A funding led by JAZZ Venture Partners to advance human intuition for self-driving cars
Toyota and Hyundai also participated in the startup’s funding round
SOMERVILLE, Mass., Oct. 09, 2018 (GLOBE NEWSWIRE) -- Perceptive Automata, the leading provider of human behavior prediction software for machines, announced today that it has raised $16 million in Series A funding. The oversubscribed round was led by JAZZ Venture Partners with participation from Toyota AI Ventures, Hyundai Motor Company, and existing investors First Round Capital and Slow Ventures, among others. The investment brings Perceptive Automata’s total capital to $20 million.
This funding round brings together investors with a shared vision for how to solve the human behavior prediction challenge for machines. Lead investor JAZZ Venture Partners backs world-class teams working at the intersection of neuroscience and digital technology, which perfectly describes Perceptive Automata and the company’s approach to equipping machines with human intuition.
Perceptive Automata’s software gives automated vehicles the ability to understand the state-of-mind of humans, pedestrians, cyclists, and other motorists. Automated vehicles need this capability to drive safely, smoothly, and predictably in a human-dominated road environment. The company is integrating its software with customer and partner ADAS and autonomous driving systems.
Perceptive Automata uses behavioral science techniques to characterize the way human drivers understand the states of the minds of other humans, and then trains its deep learning models to acquire that same ability. These sophisticated deep learning models output real-time data on the intention, awareness, and other state-of-mind attributes of pedestrians, cyclists, and other motorists. Customers’ autonomous driving systems can then assess the data to understand, for example, whether a stationary pedestrian wants to cross in front of the automated vehicle, if the cyclist ahead of the automated vehicle might want to turn left, or if another vehicle is about to merge lanes.
“We are extremely excited to invest in a company that is taking a behavioral science approach to developing AI that understands humans’ states of mind, as we believe there is no other way to solve this major challenge that is currently facing robotic systems,” said John Harris, co-founder and General Partner at JAZZ Venture Partners. Harris, who has years of experience building and running companies operating in highly regulated industries, will join Perceptive Automata’s Board of Directors. Phin Barnes from existing investor First Round Capital will also join as a Board Observer.
Toyota's first standalone venture capital firm, Toyota AI Ventures, is committed to advancing the safety of autonomous vehicles and improving the quality of human life through artificial intelligence. "Without the ability to understand and interact with humans on the road, autonomous vehicles cannot be safely deployed at any meaningful scale. That technology is essential for the broad adoption of self-driving cars and we're excited to back the team at Perceptive Automata," said Jim Adler, Founding Managing Director of Silicon Valley-based Toyota AI Ventures.
Hyundai Motor Co., the largest automobile manufacturer in South Korea, has been working on autonomous systems for many years and is partnering with companies such as Aurora and Baidu to develop and commercialize the technology. “Perceptive Automata is developing key artificial intelligence that can be applied to autonomous vehicles and robots, which will advance the self-driving ecosystem,” said John Suh, Vice President at Hyundai CRADLE, the corporate venturing and open innovation business of Hyundai Motor Co. “We were excited when we first learned about Perceptive Automata’s approach and we very much look forward to supporting the team’s efforts.”
“We are thrilled to have investors that understand the importance of the problem we are solving for machines and the approach we are taking,” said Sid Misra, co-founder and CEO of Perceptive Automata. “JAZZ, our lead investor, has a lot of experience building successful companies in regulated industries and, like us, focuses on the intersection of behavioral and computer science. Though they won’t have access to Perceptive Automata’s customer data, Toyota and Hyundai bring very valuable automotive industry and autonomous vehicle systems experience. They also share our longer-term interests in robotic systems outside automotive.”
The funding will be used to recruit engineering talent to further refine Perceptive Automata’s human intuition AI software for global markets and to grow the company’s product development and customer implementation teams.
About Perceptive Automata
Perceptive Automata is solving one of the hardest problems of automated driving: enabling vehicles to predict and understand human behavior to help safely achieve the large-scale rollout of highly-automated vehicles (L2/3) and fully-autonomous driving systems (L4/5). Perceptive Automata allows autonomous systems to anticipate human reactions so they can navigate safely and smoothly around pedestrians, cyclists, and other drivers. This is essential for autonomous systems to safely and seamlessly integrate into a human-dominated road environment and to enable a smooth ride experience for passengers of automated mobility services. For more information about Perceptive Automata, visit www.perceptiveautomata.com
About JAZZ Venture Partners
JAZZ Venture Partners invests in companies that extend the boundaries of human performance — improving how we live, learn, work, play, and experience the world. We seek breakthroughs at the intersection of cutting-edge neuroscience and digital technology that are in increasingly influencing the human experience, such as augmented reality, immersive gaming, artificial intelligence, machine learning, and closed-loop human-computer systems. JAZZ portfolio companies are unlocking human potential in broad markets, including health, mind-body wellness, accelerated learning, training, sports, entertainment, and the enterprise. For more information about JAZZ Venture Partners, visit www.jazzvp.com
About Toyota AI Ventures
Toyota AI Ventures is a Silicon Valley-based venture capital subsidiary of Toyota Research Institute (TRI) that invests in promising startups from around the world. The fund focuses on companies developing solutions in artificial intelligence (AI), robotics, autonomous mobility, data, and cloud technology that share its mission of improving the quality of human life through AI. For more information about Toyota AI Ventures, please visit www.toyota-ai.ventures
About Hyundai CRADLE
Hyundai CRADLE is the Center for Robotic-augmented Design in Living Experiences. CRADLE strengthens Hyundai Motor Group's core automotive business and expands it into new and adjacent markets with the goal of enhancing transportation on and off the road. The company also plans to expand the Hyundai CRADLE innovation concept globally. For more information about Hyundai CRADLE, visit www.cradleinc.com
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Følg saker fra GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra GlobeNewswire
Constellation Brands CEO Bill Newlands Signs CEO Action for Diversity & Inclusion Pledge20.6.2019 15:00:00 CEST | Pressemelding
VICTOR, N.Y., June 20, 2019 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today that that Bill Newlands, president and chief executive officer, is joining CEO Action for Diversity & Inclusion™ - the largest CEO-driven business commitment to advance diversity and inclusion within the workplace. The CEO Action for Diversity & Inclusion recognizes that change often happens when there’s support at the executive level. More than 600 CEOs of the world’s leading companies and business organizations are leveraging their voices to advance diversity and inclusion in the workplace by placing individual accountability on all—leaders and employees—to create inclusive environments. “At Constellation, we work hard to foster an inclusive culture that is characterized by diversity in background and thought, and that reflects our consumers and the communities where we live and work,” said Newlands. “Signing the CEO Action for Diversit
Radient Technologies Inc. Provides Update on Progress of Cannabis and Hemp Extraction Facilities and Issues Shares for Services20.6.2019 13:30:00 CEST | Pressemelding
EDMONTON, Alberta, June 20, 2019 (GLOBE NEWSWIRE) -- Radient Technologies Inc. (“Radient” or the “Company”) (TSX Venture: RTI; OTCQX: RDDTF) is pleased to announce it has awarded the mandate for the second phase of the construction of its Edmonton III manufacturing facility to Fillmore Construction Management Inc. (“Fillmore”). Construction is well underway, with footings and foundation work having been completed, and the structural component of the building now in progress and on schedule. Fillmore was selected by Radient due to its extensive previous experience developing food processing and GMP approved manufacturing plants. Edmonton III is Radient’s expanded capacity cannabis and hemp processing line that is expected to have a total annual throughput capacity of 280,000 kg/year of cannabis, and 2,800,000 kg/year of hemp upon completion in calendar 2020. Radient completed its first commercial extraction run for Aurora Cannabis Inc. (“Aurora”) (TSX: ACB; NYSE: ACB) in May 2019 at its
TeraRecon Receives First-of-Kind FDA Determination20.6.2019 11:00:00 CEST | Pressemelding
DURHAM, N.C., June 20, 2019 (GLOBE NEWSWIRE) -- Advanced visualization and artificial intelligence (AI) technology provider, TeraRecon, today announced it has successfully completed an FDA regulatory review of its Northstar™ AI Results Explorer, for which the technology and the determination are both firsts-of-kind in the medical imaging industry. Northstar is designed to work alongside the company’s EnvoyAI™ interoperability platform which includes FDA-cleared 3rd party content listed on its EnvoyAI Exchange marketplace. The Northstar determination letter reinforces the company’s commitment to regulatory and quality standards along with transparency in the field of medical imaging artificial intelligence. The Northstar AI Results Explorer provides an engaging physician user experience which can be integrated into the clinical systems already used throughout the health enterprise. Now with full commercial availability, Northstar can provide physicians an important way to accept, reject
Appian Named A Leader in Digital Process Automation for Deep Deployments Report by Independent Research Firm19.6.2019 16:28:00 CEST | Pressemelding
RESTON, Va, June 19, 2019 (GLOBE NEWSWIRE) -- Appian (NASDAQ: APPN) today announced it has been named a leader in “The Forrester Wave™: Software For Digital Process Automation For Deep Deployments, Q2 2019” report (“DPA Deep”). In Forrester’s four market segments for rapid application development, DPA Deep platforms “excel at the high end of process complexity but may also be the right solution to meet the needs for a wide-deployment, low-code standard” in an organization. In Forrester’s evaluation, Appian tied for the top score in the Current Offering category (including criteria for user experience development tools; process and flow design; digital decisioning, and robotic process automation). Appian also received among the second-highest scores in the Strategy category (including criteria like vision and strategy, commercial model, partners and training, community, and marketplace). The report notes that “Appian is a low-code vendor that thrives in complex process environments.” Th
Seaborn Networks announces new IP & Ethernet Services for Brazil and U.S. market19.6.2019 14:30:00 CEST | Pressemelding
BOSTON, June 19, 2019 (GLOBE NEWSWIRE) -- Seaborn Networks (“Seaborn”), a leading developer-owner-operator of subsea fiber optic cable systems, today announced that it will be delivering industry leading performance with new IP Service offerings comprising of diverse Ethernet Service and IP Service solutions addressing the market’s demand for rapidly deployed and highly stable global Ethernet & IP based needs between North and South America. IP Service offerings will include IP Transit, Remote Peering, Cloud Connect and Enterprise DIA solutions. Seaborn’s IP Services are offered under a minimal commitment with the ability to utilize additional bandwidth on a pay-as-you-use basis. Seaborn’s Ethernet Service offerings include E-Line, E-LAN and E-Tree capabilities with options for protected service depending on the Class of Service (CoS) selected. Industry leading SLA’s are provided on all IP and Ethernet services. “In today’s fast paced, highly complex communications environment, busines
Standard Lithium Announces Positive Preliminary Economic Assessment and Upgrading of Mineral Resource at Its Southern Arkansas Lithium Brine Project19.6.2019 09:00:00 CEST | Pressemelding
VANCOUVER, British Columbia, June 19, 2019 (GLOBE NEWSWIRE) -- Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV: SLL) (OTCQX: STLHF) (FRA: S5L), is pleased to announce the results of a Preliminary Economic Assessment (PEA) of its 150,000 acre project in the south-central region of Arkansas, USA (the “Property”). The PEA considers the production of battery-quality lithium carbonate through a phased build-out to a total 20,900 tonnes per annum (tpa) from the contemplated joint venture with Lanxess Corp. (see press release dated November 12, 2018) at their three-operating bromine-processing plants. The PEA also includes the reclassification of the existing mineral resource to an Indicated category. The PEA was prepared by Advisian, the consulting arm of WorleyParsons Canada Services Ltd (Worley), a world-leading integrated engineering firm with extensive experience in the design and construction of chemical plants and lithium brine processing projects around the globe. Ke