CorrActions, an Israeli AI-based driver safety startup, has successfully closed its oversubscribed Series A round, raising $7.25 million. The funding round was led by Volvo Cars Tech Fund, which was joined by BlackBerry, alongside prominent venture capital firms Next Gear Ventures, Mobilitech Capital, Regah Ventures, OurCrowd, NextLeap Ventures, and Stone Ventures. The investment will be used to accelerate the adoption of CorrActions’ solution in production vehicles, which is already in process with multiple automakers.
CorrActions has developed AI-based software that detects abnormalities in the cognitive state of drivers and passengers. The software analyzes micro muscle movements that reflect brain activity, using existing human-motion sensors in vehicles such as the steering wheel, in-cabin radars, seats, and other devices. These movements can indicate various cognitive states, including driver intoxication, fatigue and distraction.
Automakers can benefit from CorrActions’ privacy-focused approach to driver monitoring. The software can be implemented in consumer vehicles through Over-the-Air (OTA) software updates, including through the BlackBerry IVY™ vehicle platform, and does not require or capture any Personal Identifiable Information (PII) to assess the driver’s cognitive state. This enables automakers to have privacy-focused driver monitoring capabilities without the need for additional sensors or cameras. These capabilities can reduce cost and supply chain complexity, while simplifying integration efforts to support faster deployment.”
CorrActions is engaged with multiple automakers to implement its solution in their vehicles, to improve driver and passenger safety and wellbeing. The solution allows fleets and telematics service providers to reduce insurance costs, improve delivery times, and increase driver safety.
CorrActions was founded in 2019 by Dr. Eldad Hochman, a neuropsychologist and scientist, and Zvi Ginosar, an experienced business executive. The company’s CEO, Ilan Reingold, is a former Chief Business Officer at Sony and General Manager at Broadcom.
“Our successful Series A funding round is a testament to the industry’s recognition of the potential of CorrActions’ AI-based brain activity monitoring technology,” stated Reingold.
“With the support of our strategic investors, including Volvo Cars and BlackBerry, we are poised to further drive the adoption of our solution in production vehicles. By detecting abnormalities in drivers’ and passengers’ cognitive states, we aim to significantly enhance road safety and revolutionize the driving experience.”
Anooj Shah, Senior Director, Investments & Strategy, BlackBerry, said: “BlackBerry is excited to partner with CorrActions and support their mission of safer roads with their privacy-first, driver safety technology. CorrActions’ machine learning algorithms are already pre-integrated into BlackBerry IVY™ to simplify in-vehicle deployment for automakers.”