Autonomous Vehicle Safety Startup Fortellix Raises $14 Million
Foretellix develops a vehicle verification system for autonomous vehicles by encompassing a wide variety of possible scenarios while enabling automakers to test their systems against a common standard
Tel Aviv-based autonomous vehicle safety startup Foretellix Ltd. completed a $14 million series A funding round, the company announced Wednesday. The round was led by Israeli venture capital firms 83North Ltd. and Nextgear Ventures, and Chicago-based Jump Capital LLC.
Foretellix develops a standard verification process for autonomous driving technology designed to automate safety testing in self-driving vehicles. Foretellix’s verification process includes millions of potential safety scenarios, such as what to do if the car encounters a tsunami, according to company statements. Founded in 2010, Fortellix raised $16 million to date, according to company statements.
Foretellix’s founder Yoav Hollander sold his previous startup, Verisity Ltd., to California-based Cadence Design Systems Inc. in 2005 for $315 million. Verisity developed software for verifying the functionality of chips.
Foretellix Execs. Photo: Photo: Dror Sithako