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Phantom AI Secures $36.5M Series C Funding for Autonomous Driving Platform

Phantom AI, a leading developer of an autonomous driving platform, has announced that it has secured $36.5 million in Series C funding. This latest funding round brings the company's total funding to $80.2 million since its inception in 2017. The company aims to democratize autonomous driving by advancing ADAS technologies, and this new funding will help it accelerate its current series production development with major OEMs.

Phantom AI's product offerings include a computer vision system called PhantomVision, a sensor fusion called PhantomFusion, and PhantomDrive, a vehicle control system. These technologies work together to provide lower-level autonomy systems that can be integrated into vehicles to deliver full autonomy in the future. The company's unique strategy sets it apart from others in the autonomous vehicle space, and it has already attracted a number of Tier 1 automotive manufacturers as customers.

Hyunggi Cho, the CEO of Phantom AI, co-founded the company with Chan Kyu Lee, the CTO. The two met while working at Tesla and discovered a shared interest in the possibilities of early ADAS technology. They believed that this technology had the capacity to bring autonomous technology to market well before fully driverless cars reach the roads.

Cho stated in a release, "This funding validates investor confidence in not only our mission to save lives through innovative visual perception technology but also our ability to execute on this mission. We're focused on developing and expanding our product offerings, enhancing our marketing and sales efforts, and accelerating our business growth with the goal to give customers the best possible multi-camera vision solutions in the market."

New investors participating in the round included InterVest, Shinhan GIB, and Samsung Ventures. The Series C round also included existing investors KT Investment and Renaissance Asset Management. Jay Jinhwan Jeon of InterVest, the lead investor in this round, said in a release, "This is a very exciting time for Phantom AI as customers are recognizing the critical role driver-assisted technology plays in making automobiles safer for everyone. We're thrilled to partner with Phantom AI at this time to help bring this important technology to the market."

Phantom AI's innovative approach to autonomous driving has the potential to revolutionize the industry. By focusing on ADAS technologies, the company is able to provide lower-level autonomy systems that can be integrated into vehicles today, with the potential to deliver full autonomy in the future. With this new funding, Phantom AI is well-positioned to continue developing its technologies and accelerate its series production development with major OEMs. If you're looking for a robot job or to hire a robot worker, Phantom AI is a company to watch in the autonomous driving space.

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