Temasek backs $101m top-up of autonomous driving tech firm

Israel-based Autobrains, a developer of AI-enabled tech for assisted and autonomous driving, said it raised US$101 million in a series C round led by Temasek.

The fundraise also saw participation from new investors Knorr-Bremse AG, an automotive player, and Vietnam-based car manufacturer VinFast. Autobrains’ existing investor BMW and long-term strategic partner Continental AG also pitched in.

Autobrains chairman Karl-Thomas Neumann / Photo credit: Autobrains

Autobrains has developed a self-learning AI that maps real-world data that helps identify concepts and scenarios and make smart decisions while driving. The company said its tech requires far less computing power and is cheaper to produce compared to existing deep-learning systems on the market.

The Tel Aviv-based firm said it will use the new funds to expand into new global markets. Autobrains said in a statement that its international push comes as the automotive industry transitions toward more complex advanced driver-assistance systems, as regulatory bodies will require advanced safety systems in new vehicles from mid-2022.

The company, along with new and existing partners, will look to bring self-learning AI to additional global markets and expand its commercial reach while enabling “safer assisted driving capabilities and higher levels of automation for next generation mobility,” said Karl-Thomas Neumann, chairman of Autobrains.