- Recogni successfully raises its financing round with a volume of $25 million
- Besides OSRAMs Venture Capital arm Fluxunit, BMW iVentures, Toyota AI Ventures, Faurecia, GreatPoint Ventures and other investors partake in the round
- Recogni develops high-performance, low-power AI processing for autonomous vehicles
Fluxunit, OSRAM’s Venture Capital arm joins leading VC funds well as automotive OEMs and Tier-1 suppliers in the financing round of Recogni. The Silicon Valley start-up with subsidiary in Munich develops a vision-oriented artificial intelligence (AI) platform for autonomous vehicles, which allows the processing of sensor data from LIDAR (Light Detection and Ranging, a sensor based on infrared light for 3D machine vision that can be used to detect distances amongst other things), camera and RADAR systems in real-time and at low power consumption. Besides Fluxunit, GreatPoint Ventures, Toyota AI Ventures, BMW iVentures, Faurecia, DNS Capital, amongst others partake in the $25 million financing round.
As the automotive industry is transitioning to autonomous vehicles, a network of computers is needed to drive these vehicles efficiently on a limited energy budget. While these AI systems are trained offline, they need to process the sensor data in real-time in the vehicle. Today, autonomous vehicles have hit the processing efficiency wall and are unable to transition to the next level of autonomy and beyond. Recogni is focused on creating high-performance and low-power AI processing to help make autonomous vehicles a reality. Founded in 2018 and headquartered in San Jose, California, the company is positioning itself to revolutionize the processing of sensor data for Level 2+ autonomous vehicles. Using a Vision Cognition Processor, Recogni will solve the problem of running perception algorithms in the vehicle in real-time and at low power consumption. The company’s founders possess deep industry experience in system design, AI, vision, and custom silicon design.