Helm.ai, a provider of next-generation AI software for autonomous driving and automation of robotics, announced it raised $55 million in its Series C financing. The round was led by Freeman Group and also includes investments from venture capital firms ACVC Partners and Amplo as well as strategic investments from Honda Motor, Goodyear Ventures, and Sungwoo Hitech. This financing brings the total amount raised by Helm.ai to $102M. Helm.ai will use the funds for R&D, productization of its self-driving technologies, and to further execute on commercial engagements with customers and partners in the automotive and robotics sectors.
“Our Deep Teaching technology allows us to quickly deliver best-in-class AI software to OEMs and Tier 1s in a hardware-agnostic fashion, accelerating their time to market and enabling their path to software differentiation with high-end ADAS and L4 systems,” said Helm.ai CEO Vlad Voroninski, “This new capital will increase our AI offerings for autonomous driving and robotics applications and expand the commercialization footprint of our cutting-edge AI software stack.”
Helm.ai’s Series C round marks the third time Freeman Group has invested in ventures associated with Helm.ai CEO Vlad Voroninski. Prior to co-founding Helm.ai in 2016, Vlad served as Chief Scientist at Sift Security, a cybersecurity machine learning startup seeded by Freeman Group and acquired in 2018 by Netskope, which is now the fastest growing private cybersecurity company in the world, valued at $7.5 billion. Freeman Group, which has also invested in the Series B and Series C rounds of Helm.ai, is a private investment and asset management firm founded by serial entrepreneur and investor Brandon Freeman, who is joining the Helm.ai board of directors as part of this financing.
“Vlad was an integral part of Sift Security’s early success and has led Helm.ai’s growth and development effectively by delivering breakthrough AI software that the automotive sector is rapidly embracing,” said Freeman Group President Brandon Freeman. “Freeman Group couldn’t be more excited to have led Helm.ai’s Series C round and we will continue supporting the company’s rapid growth under Vlad’s leadership.”
News of Helm.ai’s Series C funding round and its industry accolades arrives during a paradigm shift in the autonomous vehicle sector as an increasing number of competing autonomous driving companies falter due to subpar technological and market positioning, making room for next generation technologies and more robust commercialization approaches toward L4 via the high-end ADAS market.
Helm.ai has continued to enjoy record adoption thanks to its generalized, hardware agnostic approach to AI for autonomous systems and is well-positioned to secure a growing roster of customers in the months and years to come.
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SOURCE: PRWeb