An Israeli-based startup focused on automating the generation of safety verification data for autonomous vehicles has raised a $14 million Series A financing round.
Fortellix raised the money from lead investors 83North, Jump Capital and NextGear Ventures. Plans call for using the money to accelerate the company’s development, its customer programs and launch of its coverage-driven verification product. To date, Fortellix has raised $16 million including the new round.
The company’s business model has at least a partial eye on the insurance industry. Fortellix provides autonomous vehicle developers with verification technology designed to make sure that the autonomous vehicles behave properly in hundreds of millions of critical driving scenarios and are safe for broad deployment.
Fortellix describes its technology as “intelligent automation.”
Beyond that, Fortellix automates the extraction and analytics of the safety-related coverage metrics, representing the percentage of scenarios proven to work in a wide range of possible situations and conditions. Insurance companies, developers, consumers and suppliers all require this, according to the company. This element of Fortellix’s platform works with all required driving platforms, including simulators, X-in-the-loop configurations, test tracks and test vehicles.
Source: Fortellix