AI Vision Developer Recogni Raises $48.9M in Funding
February 17, 2021
Recogni, which develops an AI vision cognition system for autonomous vehicles, has announced raising $48.9 million in a Series B financing round, led by WRVI Capital. The company said the funding will help bring its perception platform to market and expand its engineering and go-to-market teams.
Additional investors include Mayfield Fund, Continental, and Robert Bosch Venture Capital, joining existing investors GreatPoint Ventures, Toyota AI Ventures, BMW i Ventures, Fluxunit – OSRAM Ventures, and DNS Capital.
The AI-powered vision cognition module (VCM) aims to address the challenges of autonomous vehicle design and deployment. Applying innovations in AI, application-specific integrated circuits (ASICs), and system software, the VCM will deliver performance at ultra-low power consumption, enabling high-resolution and high-frame rate image processing from multiple cameras concurrently in real time.
“As Silicon Valley-based deep technology investors, we understand the impact that fundamental breakthroughs in silicon architecture, embedded software, AI algorithms, and power efficiency can have on autonomous vehicle development,” said Sriram Viswanathan, founding managing [artner of WRVI Capital. “We were attracted to Recogni’s team, the innovations across multiple domains, and the potential to massively accelerate the journey to fully autonomous transportation. We are convinced their innovations have the potential to make them the leader in this market segment.”
“This investment is a strong endorsement of Recogni’s vision from venture and industry leaders. We are moving along our journey of solving the challenge of perception processing and power efficiency, by building the world’s highest-performing AI inference system at the lowest energy consumption,” said R K Anand, Recogni’s CEO.
