CerebrumX Labs, a Novi, MI-based AI-driven automotive data services & product provider, received a strategic investment from BlackBerry IVY Innovation Fund.
The amount of the deal was not disclosed. As part of the investment, Vito Giallorenzo, General Manager of IVY and Head of Corporate Development at BlackBerry will join CerebrumX’s advisory board.
The company intends to use the funds to scale its connected vehicle data-based product offering.
Led by CEO Sandip Ranjhan, CerebrumX uses artificial intelligence to deliver data and insights to businesses to drive and optimize operations and key decisions using smart data. The data management platform is utilized across the Edge and Core Network to its partners including (OEMs, Media, Insurers, Fleet Companies and Smart Cities/Municipalities). Its Augmented Deep Learning Platform (ADLP) securely collects scattered data from its partners and other third-party apps and devices to enable the activation of connected vehicle data.
With the new funding and by integrating with BlackBerry IVY®, BlackBerry’s cloud-connected, automotive AI platform, CerebrumX will be able to develop embedded in-car synthetic sensors to collect valuable consented data and perform critical data processing at the edge, delivering real-time insights that can help inform in-demand applications such as comprehensive driver and vehicle health scores.
CerebrumX is headquartered in Novi, Michigan with offices across NA, EMEA and APAC.
FinSMEs
07/04/2023