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Phantom AI injects $36.5M in funding to advance driver assistance systems tech

Categories Edge Computing News  |  Edge Startups  |  Funding
Phantom AI injects $36.5M in funding to advance driver assistance systems tech

Phantom AI, a Silicon Valley autonomous driving platform startup, has raised $36.5 million in its Series C funding round from existing and new investors, including KT Investment, Renaissance Asset Management, InterVest, Shinhan GIB and Samsung Ventures.

“This funding validates investor confidence in not only our mission to save lives through innovative visual perception technology but also our ability to execute on this mission,” said Hyunggi Cho, Phantom AI’s co-founder and CEO.

This new round of funding will aid the current series production process for large OEMs, bringing the total capital raised to $80.2 million.

“We’re focused on developing and expanding our product offerings, enhancing our marketing and sales efforts and accelerating our business growth with the goal to give customers the best possible multi-camera vision solutions in the market,” added Cho.

Phantom AI says it helps customers reduce accidents and make driving more enjoyable by providing Advanced Driver Assistance Systems (ADAS). They are committed to making life-saving ADAS technologies accessible for all, just like vehicle seatbelts. Their mission is to democratize the use of their technology for the future of self-driving.

Even though the market is facing economic challenges, the ADAS industry is predicted to continue its growth in the coming years. Owing to government assistance for automated technologies like Phantom AI, the company states that these types of startups can endure any economic downturn.

“This is quite a contrast to L4/L5 full automation areas like robotaxis, robo-shuttles and autonomous trucking, where investments scaled back as the automotive community realized that L4/L5 is not easily commercialized for the next few years,” said Cho.

Phantom AI specializes in computer vision, sensor fusion and control capabilities to create accurate, affordable, high-performing AI solutions.

“Phantom AI’s ADAS platform is filling an important market need for highly innovative, effective and affordable driver-assisted technology that is difficult to find in the market today,” said a Samsung Venture Investment Corporation representative.

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