Auto-Alliance Invests in AI Start-Up Recogni
Automotive manufacturers and Osram are investing 25 million US dollar in U.S.-German AI start-up Recogni, which is developing image processing for self-driving cars, based on artificial intelligence.
An alliance of automotive manufacturers and suppliers, plus venture capitalists including Osram's Fluxunit, are participating in Recogni's funding round. The company, which has offices in Silicon Valley and Munich, is developing an image-processing AI platform for self-driving cars. The technology processes Lidar, camera and Radar sensor data in real time and using minimal power. Alongside Fluxunit, partners including Point Ventures, Toyota AI Ventures, BMW iVentures, Faurecia and DNS Capital have committed a total of 25 million US Dollar in this financing round.
Built for performance and power
"Our market research shows that most neural network acceleration technologies are designed for either performance or power, but none is optimised for both. The Recogni platform outperforms any other system we've seen by several orders of magnitude," said Ashok Krishnamurthi, Managing Partner at GreatPoint Ventures.
According to sources at Recogni, which was set up in 2018, the company plans to use the fresh funds to develop the most efficient, cutting-edge environment perception system on the market, combining visual and Lidar/Radar data, and to grow its engineering team.