Recogni Inc., a startup that designs a vision-oriented artificial intelligence platform for autonomous vehicles, has received $25 million in funding from investors including BMW and Toyota.
The Series A funding round was led by GreatPoint Ventures with participation from Toyota AI Ventures, BMW I Ventures and Faurecia.
Recogni, founded in 2017 in San Jose, focusses on creating high-performance, low-power AI processing for autonomous vehicles.
“Autonomous systems are becoming smarter, driven by more powerful edge processing,” stated Jim Adler, founding managing director of Toyota AI Ventures. “The next opportunity is to achieve this higher machine intelligence at much lower power,”
For autonomous vehicles, sensor data will need to processed in real time.
“The ability to process sensor data on the edge efficiently and in real-time is essential in the development of autonomous vehicles,” stated Marcus Behrendt, partner at BMW i Ventures.