Bangalore, India-based self-driving vehicle startup Minus Zero raised USD 1.7 million in seed funding. The round took place on May 23, 2022. Chiratae Ventures led the financing for Minus Zero. Meanwhile, JITO Angel Network and senior executives from tech companies like Nvidia and Lyft invested in the company. The investment marks the venture capital’s entry into an Indian self-driving company.
Purpose of Funding for Minus Zero
With the recent investment, the startup mainly plans to invest in R&D infrastructure.
It will further expand their talent force to hasten the launch of their product offerings. Their product launch is scheduled for between late 2022 and early 2023.
What the founders have to say
“With multiple patents in the pipeline, our proprietary approach towards self-driving mimics human intuition giving the software an ability to gain confident insights even with fewer data inputs. This enables robust decision making, which is crucial for safe navigation in scenarios where extrinsic factors like poor traffic infrastructure, rash driving, and harsh weather would have otherwise compromised the vehicle’s safety. Safety is and will be our foremost priority,” said Gagandeep Reehal, CEO and CTO of the startup.
“Minus Zero believes that the complexity of self-driving cars can be solved not by stacking up more sensors or petabytes of data, but by making the AI more intuitive, similar to the way our own brain handles decision making,” the company said in a statement.
What the investors have to say
“Autonomous vehicles (AV) are no more a thing of the future and need to become a reality now. Scaling AV adoption beyond the current limited usage in specific cities and high-end cars requires a reimagination beyond relying on expensive technologies like Lidar and training over millions of hours of data,” said TCM Sundaram, founder & vice chairman of Chiratae Ventures.
“Further, in emerging markets like India with difficult and unstructured driving conditions, the approach to AV needs to be novel and specifically tailored. The Minus Zero team brings a fresh approach to AV and build for mass adoption in entry and mid-level cars and emerging markets,” he further said.
About Minus Zero
Gagandeep Reehal and Gursimran Kalra brought Minus Zero into existence in 2021. The self-driving vehicle startup aims to make self-driving technology affordable by making self-driving more intuitive instead of stacking up more high-end sensors such as LiDAR.
Minus Zero relies solely on monocular camera-based vision and algorithms for sensing in terms of technology. The startup earlier raised an undisclosed amount of funding in a pre-seed round in September 2021.
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