Foretellix Raised $43 Million
2 May, 2023
NVIDIA and Toyota have joined the financing round, which was completed with the participation of existing shareholders, including Volvo and Daimler. Foretellix allows virtual verification of AV and ADAS platforms
Above: Ziv Binyamini, Foretellix CEO and Co-Founder
NVIDIA and Toyota have made an investment in Tel aviv-based Foretellix, a provider of safety-driven verification and validation solutions for Automated Driving Systems and Advanced Driver Assistance Systems (ADAS). Foretellix announced it has raised $43 million in the first closing of its Series C funding round led by 83North, bringing its total raised capital to over $93 million.
This time, Woven Capital of Toyota and NVIDIA joined the financing round, along with Artofin VC. All major existing shareholders participated, including MoreTech, Nationwide, Volvo Group VC, and Jump Capital. “We are thrilled to have Woven by Toyota and NVIDIA as strategic partners,” said Ziv Binyamini, Foretellix CEO and Co-Founder. “The new funding will help us to extend our worldwide reach, and accelerate our vision for achieving safe autonomy.”
Foretellix’s Safety-Driven Verification & Validation (SDV) Platform, Foretify, is used by Automotive, Trucking, and Mining customers, including Volvo Group, Daimler Truck subsidiary, and many others, to accelerate the development and deployment of their Automated Driving Systems. Foretellix established partnerships with major simulation companies, including IPG, NVIDIA, dSPACE, VIRES, AI Motive, and Cognata.
The platform is based on a new invention: The Measurable Scenario Description Language (M-SDL) – a modeling language addressing the needs of Autonomous Vehicle (AV) and ADAS verification. M-SDL allows users to create a partial, abstract description of a scenario together with a set of legality rules. In order to thoroughly verify an AV or ADAS, users often need to take into account multiple ways of categorizing actors or scenarios. This can be easily modeled in M-SDL, and thus to save the need for countless actual driving sessions on physical roads.
Foretellix led the ASAM OpenSCENARIO® 2.0 (OSC2.0) standard development revolutionizing how safety is developed and tested in Automated Driving Systems. Foretellix contributed key syntax and concepts to ASAM, and it continues to lead further enhancements of the standard. The Foretify platform is the industry’s first solution offering native OSC2.0 support.