Autotech Startup Cognata Raises $18.5 Million
The Israel-based company develops a simulation program for training artificial intelligence-based systems
Israel-based autotech company Cognata Ltd. has raised $18.5 million in a series B round led by existing investors Airbus Ventures, E.Merge Group, and Maniv Mobility, and new investor Global IoT Technology Ventures. The round brings Cognata's total equity funding to $23.5 million.
For daily updates, subscribe to our newsletter by clicking here.Founded in 2016 and based in Rehovot, a town in central Israel, Cognata develops an artificial intelligence-based system capable of simulating various situations a self-driving car may encounter within a specific city. The system is meant to reduce the time and resources required for testing the vehicles in real-life situations.
Cognata CEO Danny Atsmon. Photo: PR
In June, Cognata announced a partnership with Autonomous Intelligent Driving GmbH (AID), a Munich-based subsidiary of German automaker Audi AG. As part of the collaboration, AID will use Cognata’s technology to test its autonomous vehicles.
Cognata intends to use the funding to increase its employee count, currently at 30 people, and expand its presence in China, Germany, the U.S., and Japan.