Mountain View, CA-September 3, 2019…
BMW i Ventures announced today an investment in Cartica AI, the leading automotive visual intelligence platform developing next generation AI capabilities for the automotive industry while using the computational resources of an average car. The new funding will be used to launch Cartica’s Autonomous AI platform and scale its global operations.
“Cartica AI introduces a series of important technological advancements for an OEM ranging from low compute requirements and low energy consumption, to a transparent decision-making process of the computer vision-based perception stack. Updates to the system can be included within minutes without the need to re-run vast amounts of training data like neural network-based approaches,” said Kasper Sage, Partner BMW i Ventures. “This is of immense value before a new system release. We believe Cartica will thus play a key role in the development of Autonomous Driving and Advanced Driver-Assistance Systems (ADAS) by OEMs and Tier 1s, allowing them to design safe and predictable solutions that fulfill the strict requirements of the market.”
Cartica AI is introducing a paradigm-shift to the conventional AI approach of supervised deep learning, which is heavily based on massive amounts of human-labeled data. This labeling process is time-consuming, expensive and unreliable for edge-case scenarios. In contrary to deep-learning, Cartica AI enables un-supervised learning from real-world data, resulting in unprecedented accuracy in edge cases and challenging scenarios. Cartica AI’s platform is based on an already mature technology, following over a decade of R&D and is protected by over 200 patents.
“Our goal is to introduce a novel, yet proven, AI approach to the automotive industry, which will pave the way for a safer and more autonomous transportation,” said Igal Raichelgauz, CEO and Co-founder of Cartica AI. “Our strategy is to build strong partnerships with leading automotive players in order to bring our solution to the high volume automotive market, by the end of next year. Joining forces with these leading players is another substantial validation to our unique technology and business strategy.”
About BMW i Ventures
BMW i Ventures, BMW’s EUR 500 million venture capital fund, invests money and resources in startups in the fields of autonomous driving, digital car and automotive cloud, e-mobility, artificial Intelligence and data, industry 4.0, shared and on-demand mobility, customer digital life, and energy services. The firm has already partnered with innovative companies such as Bright Machines, Carbon3D, Chargepoint, Claroty, DesktopMetal, Graphcore, JustPark, Life360, Moovit, Nauto, Scoop, Stratim, Tekion, Xometry, Zendrive and Zum. BMW i Ventures invests in all stages from seedto growth companies.
BMW Group In America
BMW of North America, LLC has been present in the United States since 1975. Rolls-Royce Motor Cars NA, LLC began distributing vehicles in 2003. The BMW Group in the United States has grown to include marketing, sales, and financial service organizations for the BMW brand of motor vehicles, including motorcycles, the MINI brand, and Rolls-Royce Motor Cars; Designworks, a strategic design consultancy based in California; technology offices in Silicon Valley and Chicago, and various other operations throughout the country. BMW Manufacturing Co., LLC in South Carolina is the BMW Group global center of competence for BMW X models and manufactures the X3, X4, X5, X6 and X7 Sports Activity Vehicles. The BMW Group sales organization is represented in the U.S. through networks of 348 BMW passenger car and BMW Sports Activity Vehicle centers, 149 BMW motorcycle retailers, 122 MINI passenger car dealers, and 38 Rolls-Royce Motor Car dealers. BMW (US) Holding Corp., the BMW Group’s sales headquarters for North America, is located in Woodcliff Lake, New Jersey.
Information about BMW Group and its products in the USA is available to journalists on-line at www.bmwusanews.com