US-based startup DeepScale has secured funding to advance the development of artificial intelligence perception software for use in mass-produced automated vehicles.

The company raised $15m in the Series A funding round, which was led by Point72 and next47.

DeepScale uses deep neural networks (DNNs) on small, low-cost, automotive-grade sensors and processors to enhance the accuracy of perception systems thereby facilitating the process of classifying sensor data in real-time, for automated vehicles.

DeepScale co-founder and CEO Forrest Iandola said: “One of our core objectives is to drastically reduce the number of deaths and injuries on the road.

Covid-19 Report — Updated twice a week Understanding the Covid-19 outbreak, the economic impact and implications for specific sectors

Covid-19 executive briefing report cover
GlobalData

Our parent business intelligence company

“The company’s Series A funding will not only empower our engineering team to continue to make breakthroughs in automated driving safety, but will also help us attract the brightest talent in the industry to transform the future of transportation.”

With the new funding, the company intends to expand its engineering team and drive technology advancements to support its aim to make self-driving vehicles and roads safer.

“One of our core objectives is to drastically reduce the number of deaths and injuries on the road.”

next47 partner Rylander said: “DeepScale is bringing unique expertise and advancements in deep neural network design to the automotive industry.

“We’re very excited by the potential of autonomous technology to transform transportation markets. The DeepScale team is accelerating commercialisation of today’s driver assistance systems and tomorrow’s self-driving vehicles, with the opportunity to bring profound impact to other transportation verticals longer term.”

DeepScale has also entered multiple strategic partnerships with Tier 1 suppliers, OEMs and semiconductor suppliers to deliver automated driving perception solutions.

The company is expected to bring its perception software for prototyping through development kits from the second half of this year.