Foretellix – a leading provider of safety-driven verification and validation solutions for Automated Driving Systems and Advanced Driver Assistance Systems (ADAS) – announced recently it had raised $43 million in the first closing of its Series C funding round led by 83North, bringing its total raised capital to over $93 million. Woven Capital (the growth fund of Toyota) and NVIDIA joined the funding round along with Artofin VC.
All of the major existing shareholders participated, including MoreTech, Nationwide, Volvo Group VC, and Jump Capital. And Foretellix will use the funding to accelerate the development of its expanding product portfolio and fuel expansion across new geographies.
Foretellix’s Safety-Driven Verification & Validation (SDV) Platform Foretify is used by automotive, trucking, and mining customers, including Volvo Group, Torc (a Daimler Truck subsidiary), and many others to accelerate the development and deployment of their Automated Driving Systems. Plus Foretellix established partnerships with major simulation companies, including IPG, NVIDIA, dSPACE, VIRES, AI Motive, and Cognata, providing its customers with a comprehensive verification and validation (V&V) solution.
The Foretify platform is used by engineers at OEMs, Tier-1 suppliers, and Autonomous Vehicle (AV) stack providers throughout the AV/ADAS development cycle. And the platform consists of multiple products:
1.) Foretify Core – Hyperscale virtual test generation and execution engine based on Foretellix’s state-of-the-art constrained random test generator, pre-integrated with industry-leading simulators.
2.) Foretify Developer – Scenario and test development and debug tool, including a powerful visualizer that helps engineers to view and debug single-run test results, including KPIs, checks, and coverage.
3.) Foretify Manager – V&V management and big data analytics tool that enables engineers to create and execute metric-based V&V plans, triage, and analyze test results and coverage across virtual simulation and real-world driving.
4.) Foretify LogIQ – Automated drive log analysis tool that identifies scenarios of interest and breaks them down into their sequential building blocks, detects edge cases and anomalies, extracts KPIs and coverage, and provides a powerful log visualization tool.
5.) Foretify V-Suite – Ready-to-use V&V libraries, including scenarios, verification plans, maps, coverage metrics, and KPIs, that help accelerate customers’ projects. V-Suites can automatically generate millions of relevant concrete scenarios and easily adapt to customers’ ODD and system requirements.
Foretellix led the ASAM OpenSCENARIO 2.0 (OSC2.0) standard development transforming how safety is developed and tested in Automated Driving Systems. And Foretellix contributed key syntax and concepts to ASAM, and it continues to lead to further enhancements of the standard. The Foretify platform is the industry’s first solution offering native OSC2.0 support.
“We are thrilled to have Woven by Toyota and NVIDIA as strategic partners. Foretellix is addressing the largest barrier for safe large-scale deployment of automated driving systems. The new funding will help us to address the growing demand for our solutions, extend our worldwide reach, and accelerate our vision for achieving safe autonomy.”
- Ziv Binyamini, Foretellix CEO and Co-Founder
“At Woven by Toyota, we’re on a mission to deliver the world’s safest, most intelligent, and human-centric mobility solutions. Verification and validation technology plays a critical role in ensuring the safety and performance of innovative autonomous systems that are accelerating the future of mobility. Foretellix is a leading player in this space, and we are excited to work together to advance automated driving technologies.”
- George Kellerman, Vice President, Investments and Acquisitions for Woven by Toyota, and Managing Director of Woven Capital