Foretellix closes $32m Series B funding
Summary
Foretellix was founded in 2018 by a team of verification and validation pioneers with a mission to make automated driving systems safe and efficient. Foretellix is now commercially engaged with dozens of the largest names in the automotive industry, including Volvo Group and DENSO Corporation. “Foretellix’s platform brings a low-code approach to the creation and coverage of complex driving scenarios,” said Zack Keinan, General Partner of MoreTech Ventures. “The value proposition to customers is clear: confidence that vehicles are behaving properly, a scalable approach to testing, and faster time-to-market. We are excited to be leading this investment round into this unique team and technology addressing a major bottleneck which will only become more challenging as OEMs and Tier-1’s suppliers adopt increasingly software-centric models.” Martin Witt, VP and Head of Volvo Group Venture Capital said: “We look for startups that are building the future with technological developments that will transform the transport industry.
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