Japanese automaker Mazda is among the investors participating in a $16 million funding round for U.K.-based tech company Secondmind. The company focuses on harnessing the capabilities of artificial intelligence (AI) to streamline design and development processes for automakers, aiming to significantly reduce vehicle development times.
Naohito Saga, Mazda's Head of R&D, highlighted the need for the automotive industry to expedite development processes in response to evolving market demands and the growing complexity of technology. The partnership with Secondmind is expected to contribute to Mazda's continued advancement in vehicle manufacturing.
Secondmind claims that its AI technology can substantially reduce errors during design and testing stages by a factor of 10. This reduction in errors leads to fewer corrections and a 40% decrease in the need for prototypes, ultimately saving time and costs in vehicle development, with a specific focus on electric vehicles (EVs).
The funds raised in this financing round will be allocated to enhance sales and marketing efforts for Secondmind, supporting the accelerated development of its cloud-native Secondmind Optimization Engine. Additionally, the funding will contribute to the advancement of Mazda's advanced AI research and education strategy, building on the longstanding collaboration between the two companies.
Gary Brotman, CEO of Secondmind, emphasized the alignment of goals between Secondmind and Mazda in enabling continuous optimization of vehicle design and performance, particularly in the context of the software-defined vehicle era. The collaboration aims to pave the way for AI innovation in automotive engineering.
Returning investors participating in the funding round include Amadeus Capital Partners, Atlantic Bridge Ventures, and Cambridge Innovation Capital. The specific contribution from each investor to the total $16 million funding has not been disclosed.