Phantom AI, a Silicon Valley startup providing a comprehensive autonomous driving platform featuring computer vision, sensor fusion, and control capabilities, announced that it secured $36.5 million in its Series C funding round.
InterVest led the round, with participation from existing investors, including KT Investment and Renaissance Asset Management, and new investors Shinhan GIB and Samsung Ventures.
The funds will be used to accelerate the current series production development with major OEMs. With this new round, the company has raised a total of $80.2 million since its founding in 2017.
"This funding validates investor confidence in not only our mission to save lives through innovative visual perception technology but also our ability to execute this mission," said Hyunggi Cho, Phantom AI's co-founder, and CEO. "We're focused on developing and expanding our product offerings, enhancing our marketing and sales efforts, and accelerating our business growth with the goal to give customers the best possible multi-camera vision solutions in the market," added Cho.
Phantom AI is focused on helping customers reduce accidents and make everyday driving more enjoyable while unlocking what's next for ADAS. Phantom AI believes that the better way to build autonomous vehicles and advance the future of smart cars is to democratize the use of lifesaving ADAS technologies, similar to how seatbelts have been adopted and mainstreamed since the late 1800s.
Company: Phantom AI, Inc.
Raised: $36.5M
Round: Series C
Funding Month: February 2023
Lead Investors: InterVest
Additional Investors: KT Investment and Renaissance Asset Management, InterVest, Shinhan GIB, and Samsung Ventures
Company Website: https://phantom.ai/
Software Category: Autonomous Vehicle Stack
About the Company: Founded in 2017 by Hyunggi Cho and Chan Kyu Lee, Phantom AI, is an autonomous vehicle startup that provides a comprehensive autonomous driving platform featuring computer vision, sensor fusion, and control capabilities. Phantom AI has created the most accurate and highest-performing AI solutions that meet car manufacturer requirements, at a much lower price than existing solutions. The company’s mission is to democratize the use of advanced driver-assistance systems (ADAS) to reduce accidents, save lives, and make driving more enjoyable while delivering tomorrow's self-driving technology.
Source: https://www.prnewswire.com/news-releases/phantom-ai-raises-36-5m-in-series-c-funding-round-301735129.html