Ottometric, a technology company specializing in the validation of Advanced Driver Assistance Systems (ADAS), has secured $4.9 million in seed funding.
The investment round was led by Rally Ventures, with the participation of leading mobility funds, including Goodyear Ventures, Proeza Ventures, Automotive Ventures, Trucks VC, Reinforced Ventures, and Investor Collaborative.
The company was founded in 2019 by a team of automotive industry veterans with extensive experience in artificial intelligence (AI) training and validation processes. They developed a cloud-based software platform that automates and streamlines the ADAS development and validation process, helping OEMs and their suppliers save millions in development costs while shortening time to market.
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The platform also enables customers to identify and fix bugs in ADAS software and improve system reliability. Ottometric’s unique expertise has attracted top-tier customers in the ADAS industry, including two of the world’s ten largest Tier-1 automotive suppliers. The investment will enable Ottometric to expand its customer base, grow its organization, and accelerate the transformation of the ADAS development and validation process.
“The ADAS market is evolving rapidly due to government regulation and consumer demand for more reliable and capable driver assistance systems,” said Joseph Burke, CEO of Ottometric. “This funding enables us to grow the organization, expand our customer base, and accelerate our transformation of the ADAS development and validation process for the next generation of driver assistance systems.”
“Improvements in ADAS capabilities will require new, scalable validation technologies that can help enable more reliable mobility,” said Abhijit Ganguly, Managing Director, Goodyear Ventures. “Ottometric is transforming ADAS validation and AV training, and the Goodyear team is excited to learn alongside a leading startup in this area.”