Recogni Inc., a San Jose, CA-based developer of an AI vision cognition system for autonomous vehicles, raised $48.9m in a Series B financing.
The round was led by WRVI Capital with participation from new investors Mayfield Fund, Continental, and Robert Bosch Venture Capital and existing investors GreatPoint Ventures, Toyota AI Ventures, BMW i Ventures, Fluxunit – OSRAM Ventures, and DNS Capital.
The company intends to use the funds to bring its perception platform to market and expand its engineering and go-to-market teams.
Led by R K Anand, Chief Executive Officer, Recogni has developed an AI-powered vision cognition module (VCM) which will address the challenges of autonomous vehicle design and deployment. Applying innovations in artificial intelligence, application-specific integrated circuits (ASICs), and system software, the VCM aims to deliver performance at ultra-low power consumption, enabling high-resolution and high-frame-rate image processing from multiple cameras concurrently in real time.
The company also has operations in Munich, Germany.