Helm.ai Raises $26 Million in New Funding
Series B round led by Amplo will support team growth and product expansion of its high-end ADAS and L4 autonomous driving software
Helm.ai, creator of next-generation AI software for autonomous driving, today announced it has raised $26 million in series B funding. This funding will help Helm.ai better serve its rapidly growing customer base, and accelerate product expansion of its highly scalable approach to autonomous driving software.
“Helm.ai is taking a leading position in autonomous driving via their vision-first unsupervised learning approach to ADAS and L4, in addition to a wide variety of robotics and automation markets,” said Sheel Tyle of Amplo, a returning investor which led the round. “We’re excited to see the many applications made possible by Helm.ai.”
This funding comes as Helm.ai reports its best year in terms of revenue generation, along with commercial contracts with multiple OEMs, and partnerships with leading Tier 1s, chip, and sensor companies, including previously announced partnerships with NVIDIA and Honda via their Xcelerator program. Despite the COVID slow-downs that have hampered most of the automotive sector, Helm.ai has seen a substantial increase in revenue in 2021.
“This Series B funding enables Helm.ai to further our mission of developing cutting edge artificial intelligence software and applying it to self-driving cars and the automation of robotics at large,” said Vlad Voroninski, CEO of Helm.ai. “We are well positioned at this stage to expand our product line and continue to deliver market-leading ADAS and L4 solutions to OEMs and fleets, as well as to form additional partnerships with Tier 1s, sensor, and chip companies.”
Unlike traditional Deep Learning systems, Helm.ai’s Deep Teaching unsupervised learning technology leverages mathematical modeling to quickly and cost-effectively train on large scale datasets with little to no human intervention, leading to state of the art accuracy on a variety of automotive compute platforms. A core component of its advanced driver-assistance strategy on the road to achieving L4, it has benchmarked above today’s top ADAS systems on difficult corner cases, surpassed public computer vision benchmarks and earned multiple awards, including the Autonomous Driving Solution of the Year from the AutoTech Breakthrough Awards program, along with two awards from Tech.AD Detroit.
Additional funding in this round was from JM Partners, Base Capital Funding, and Freeman Group, with additional participation from Nicolas Berggruen, ACVC Partners, OneWay Ventures, Binnacle Partners, Nadia Asoyan, Vlad Tenev, Mark Leslie, Jeff Rothschild, and Neil King. To date, Helm.ai has raised a total of $44 million in funding.
Helm.ai will appear at CES 2022 in Las Vegas next January to showcase its technology — follow the company’s LinkedIn page for updates.
Helm.ai is building the next generation of AI software for autonomous driving. Founded in November 2016 in Menlo Park, CA, the company has re-envisioned the way AI software is built to make truly scalable, autonomous driving a reality. For more information on Helm.ai, including its products, SDK and open career opportunities, visit https://www.helm.ai/ or find Helm.ai on LinkedIn.
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Originally published at https://www.prweb.com on November 16, 2021.