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May 4, 2023

In its Series C funding round, Foretellix raises $43 million

NVIDIA and Woven Capital are two new strategic investors

Foretellix, a Tel Aviv-based company providing safety-driven verification and validation solutions for Automated Driving Systems and Advanced Driver Assistance Systems (ADAS), has announced that it has secured $43 million in the first closing of its Series C funding round. The investment was led by 83North and included participation from Woven Capital, the growth fund of Toyota, and NVIDIA, as well as Artofin VC. Notably, all major existing shareholders, such as MoreTech, Nationwide, Volvo Group VC, and Jump Capital, also participated in the funding round.

This latest investment brings Foretellix's total raised capital to over $93 million. The company plans to use the funding to expedite the development of its expanding product portfolio and to fuel expansion across new geographies.

We are thrilled to have Woven by Toyota and NVIDIA as strategic partners. Foretellix is addressing the largest barrier for safe large-scale deployment of automated driving systems. The new funding will help us to address the growing demand for our solutions, extend our worldwide reach, and accelerate our vision for achieving safe autonomy.

- says Foretellix CEO and Co-Founder, Ziv Binyamini

Foretellix's Safety-Driven Verification & Validation (SDV) Platform, Foretify, has been adopted by engineers at OEMs, Tier-1 suppliers, and Autonomous Vehicle (AV) stack providers throughout the AV/ADAS development cycle. The platform comprises several products, including Foretify Core, Foretify Developer, Foretify LogIQ, and Foretify Test Center.

The backing of industry leaders such as Toyota, NVIDIA, and 83North highlights the importance of Foretellix's work and underscores the potential of its SDV platform. With the new funding, Foretellix will be well-positioned to continue advancing its mission of achieving safe autonomy for Automated Driving Systems and Advanced Driver Assistance Systems.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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