Foretellix raises $85 million in Series C closing

Foretellix, a company specialising in verification and validation (V&V) solutions for Automated Driving Systems and Advanced Driver Assistance Systems (ADAS), recently announced the closure of its Series C funding round at $85 million.

This latest round of funding elevates the total capital raised by the company to $135 million. The round was led by 83North, with new investors Temasek and Isuzu joining alongside Woven Capital – the growth fund of Toyota – NVIDIA, and Artofin, which were part of an earlier closing this year. Existing shareholders including MoreTech, Nationwide, Volvo Group VC, Jump Capital, Next Gear Ventures, and OurCrowd also participated.

Ziv Binyamini, CEO and Co-Founder of Foretellix, expressed enthusiasm about the new investors: "We are thrilled to have Temasek and Isuzu join as investors. Foretellix is driving a transformative leap forward in V&V technology and methodology. Our solutions address the largest barriers to safe large-scale deployment of autonomous vehicles while dramatically reducing development costs. We are committed to continue our partnerships with leading autonomy developers and supporting our customers. This funding round will secure our long-term sustained growth. It will help extend our product line for real-world and synthetic driving scenarios and the development of new AI capabilities."

Mr. Hiroshi Sato, Vice President of Isuzu's Engineering Division, highlighted the importance of safety verification and validation in autonomous vehicle development: "Isuzu believes that safety verification and validation is essential for OEMs to responsibly develop safe autonomous vehicles. Foretellix's advanced technology in automated scalable scenario generation, and their leadership position in the OpenSCENARIO 2.0 standard, are key assets for Isuzu. Collaborating with Foretellix's senior management and engineers is a great opportunity, and a major advantage, for Isuzu's autonomous vehicle development."

Foretellix's Foretify platform is widely used in the Automotive, Trucking, and Mining industries to expedite the development and deployment of Automated Driving Systems. The platform offers a unified V&V process that integrates real-world testing and virtual simulation. This approach assists engineers at OEMs, Tier-1 suppliers, and Autonomous Vehicle providers in enhancing collaboration and efficiency across AV and ADAS project cycles.

Foretellix has been instrumental in the development of the ASAM OpenSCENARIO 2.0 (OSC2.0) standard, significantly influencing how safety is developed and tested in Automated Driving Systems. The company has contributed essential syntax and concepts to ASAM and continues to lead in standard enhancements. Its Foretify platform is the industry's first to offer native OSC2.0 support.