Recogni Inc., the developers of an AI vision cognition system for autonomous vehicles, raised $48.9 million in a Series B financing round, led by WRVI Capital, a prominent global technology investor. The proceeds will help Recogni bring its perception platform to market and expand its engineering and go-to-market teams.
In addition to WRVI Capital, new investors Mayfield Fund, Continental, and Robert Bosch Venture Capital joined existing investors GreatPoint Ventures, Toyota AI Ventures, BMW i Ventures, Fluxunit – OSRAM Ventures, and DNS Capital in the current financing round.
Recogni’s AI-powered vision cognition module (VCM)—based on a custom ASIC—is capable of efficiently running deep-learning networks. It will address the challenges of autonomous vehicle design and deployment.
One of the key challenges that Recogni’s AI-powered platform addresses is the enormous power drain of autonomous vehicle computing systems that can reduce the range of electric cars. By leveraging innovations in artificial intelligence, application-specific integrated circuits (ASICs) and system software, Recogni’s inferencing and perception solution will deliver outstanding performance at ultra-low power consumption for ADAS applications and autonomous vehicles.
The VCM will enable high-resolution and high-frame-rate image processing from multiple cameras concurrently in real time.
The VCM is specifically designed for autonomous vehicles ranging from entry-level L2+ to fully autonomous L5.
Since July 2019, when Recogni raised $25 million in Series A funding, the company has completed successful proof-of-concept demonstrations with customers that validate Recogni’s approach.