BMW, Toyota Partner With Computer Vision Company Cortica
The multinational car manufacturers have teamed up with Tel Aviv-based Cortica to launch a new subsidiary dedicated to artificial intelligence for autonomous vehicles
13:3904.09.19
BMW’s investment arm BMW i Ventures Inc., Toyota’s investment subsidiary Toyota AI Ventures LLC, auto supplier Continental AG, and Jerusalem-based equity crowdfunding company OurCrowd Ltd. have teamed up with Tel Aviv-based computer vision company Cortica Inc., Cortica announced Tuesday. The goal of the collaboration is the launch of a Cortica subsidiary dedicated to developing artificial intelligence technologies for autonomous vehicles, Cortica said. The new offshoot is incorporated as Cartica Ltd.
Cortica co-founder Igal Raichelgauz. Photo: PR
Financial details of the new venture were not disclosed.
![Cortica co-founder Igal Raichelgauz. Photo: PR Cortica co-founder Igal Raichelgauz. Photo: PR](https://pic1.calcalist.co.il/PicServer3/2019/01/16/877324/3_l.jpg)
Founded in 2007, Cortica develops machine vision and artificial intelligence technologies for autonomous vehicles and other domains. New subsidiary Cartica will employ a team of 45 people and be managed by Cortica co-founder Igal Raichelgauz, the company said.
Prior to the launch of Cartica, the company has raised more than $69 million from investors including Horizon Ventures, Samsung Ventures, and Technion Israel Institute of Technology. Cortica currently employs a team of 100 in offices in Tel Aviv, Geneva, New York, and Haifa.