CorrActions, an Israeli AI-based driver safety startup, closed its Series A round, raising $7.25m.
The round was led by Volvo Cars Tech Fund, which was joined by BlackBerry, alongside venture capital firms Next Gear Ventures, Mobilitech Capital, Regah Ventures, OurCrowd, NextLeap Ventures, and Stone Ventures.
The company intends to use the funds to accelerate the adoption of its solution in production vehicles, which is already in process with multiple automakers.
Led by CEO Ilan Reingold, CorrActions has developed AI-based software that detects abnormalities in the cognitive state of drivers and passengers. The software analyzes micro muscle movements that reflect brain activity, using existing human-motion sensors in vehicles such as the steering wheel, in-cabin radars, seats, and other devices. These movements can indicate various cognitive states, including driver intoxication, fatigue and distraction.
CorrActions was founded in 2019 by Dr. Eldad Hochman, a neuropsychologist and scientist, and Zvi Ginosar, an experienced business executive.
FinSMEs
12/12/2023