WALTHAM, Massachusetts, February 14, 2023 — Ottometric, a startup company that pioneered the validation of ADAS, has raised a total of USD 4.9 million in its seed round of financing. Leading mobility funds like Goodyear Ventures, Automotive Ventures, Proeza Ventures, Trucks VC, Reinforced Ventures, and Investor Collaborative also participated in the round, which Rally Ventures led.
A group of seasoned professionals from the automotive sector, including those from General Motors, Autoliv, NVIDIA, and Optimus Ride, have contributed significantly to the development of ADAS over the past ten years and have a thorough understanding of the training and validation processes for artificial intelligence (AI), founded Ottometric in 2019. The firm has created a ground-breaking cloud software platform that automates and accelerates the ADAS development and validation process thanks to its unique experience in automotive electronics, AI, computer vision, and big data analytics. Two of the top ten largest Tier-1 automobile suppliers worldwide are among Ottometric’s inaugural clients, market leaders in the ADAS sector.
Every year, automotive OEMs and their suppliers develop and test ADAS systems for billions of dollars to satisfy regulatory requirements while enhancing driver confidence and safety. Before the commencement of vehicle production, petabytes of data generated from various sensors must be examined and validated throughout the development and validation process. Compared to conventional, laborious human annotation and review, Ottometric considerably reduces time to market while saving these organizations millions in development and validation expenditures. Customers may more quickly detect and solve faults in ADAS software by using the Ottometric platform, which results in shortened development cycles, a considerable decrease in the overall cost of the ADAS program, and increased system dependability.
Rally Ventures Venture Partner Zenas Hutcheson remarked, “Automating ADAS testing and certification is made possible by Ottometric’s innovative, ground-breaking technology. Ottometric automatically detects significant events and abnormalities using cloud computing, which is crucial for comprehending the actual functioning of ADAS solutions.”
More about the company:
A software business, Ottometric specializes in automating and optimizing the procedures for validating and training Advanced Driver Assistance Systems (ADAS). Ottometric, a company founded in 2019 by veterans of the automotive industry, offers automation solutions to OEMs, Tier-1, and Tier-2 suppliers whose existing development and validation processes are labor-intensive, expensive, and sluggish. Ottometric dramatically enhances system performance for these businesses, cuts down on time to market, and helps them save millions of dollars. Leading venture capital firms including Rally Ventures, Goodyear Ventures, Proeza Ventures, and Trucks VC are supporting the startup.
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