ADASWorks, a Stuttgart, Germany-based developer of an integrated software framework for Advanced Driver Assistance Systems (ADAS) and autonomous cars, closed a 2.5m Series A funding round.
The round was co-led by Robert Bosch Venture Capital GmbH (RBVC) and Inventure with participation from OTP-Day One Seed Investment Fund and angel investor Tim Draper.
The company intends to use the funds to grow the engineering team, build a testing infrastructure and productize the current algorithms for automotive clients.
Led by Laszlo Kishonti, founder and CEO, ADASWorks develops Advanced Driver Assistance Systems (ADAS) software for next-generation application processors levaraging automotive computer vision, artificial intelligence and navigation technologies.
The company is a spin-off of Kishonti Kft, a global leader in performance optimization services.
The developer team works out of the company’s Budapest, Hungary-based office.