Bosch, Continental invest in AI vision startup

February 17, 2021 // By Christoph Hammerschmidt
Bosch, Continental invest in AI vision startup
Recogni Inc, developer of an AI vision cognition system for autonomous vehicles, has successfully closed a Series B funding round of $48.9 million. With his technology, Recogni was able to convince new investors with big names: Among others, Robert Bosch Venture Capital and Continental are now on board, in addition to the ubiquitous technology investor WRVI Capital.

For automated driving, it is essential that cars can see. And not just simply see - they must also be able to recognise other vehicles and road users as well as obstacles immediately and with the utmost certainty in poor environmental conditions and in dense inner-city traffic. The American start-up Recogni claims its AI-powered Vision Cognition Module (VCM) has precisely these capabilities. What's more, the technology consumes much less power than competing systems.

Recogni’s AI-powered vision cognition module (VCM) will address the challenges of autonomous vehicle design and deployment. Applying innovations in artificial intelligence, application-specific integrated circuits (ASICs), and system software, the VCM promises to deliver groundbreaking performance at ultra-low power consumption, enabling high-resolution and high-frame-rate image processing from multiple cameras concurrently in real time.

“As Silicon Valley-based deep technology investors, we understand the impact that fundamental breakthroughs in silicon architecture, embedded software, AI algorithms, and power efficiency can have on autonomous vehicle development,” comments Sriram Viswanathan, Founding Managing Partner of WRVI Capital. “We were attracted to Recogni’s team, the innovations across multiple domains, and the potential to massively accelerate the journey to fully autonomous transportation. We are convinced their innovations have the potential to make them the leader in this market segment.”

Tier 1 automotive suppliers have continuously strengthened their AD technology expertise for years. “Continental has a strong focus on developing automated and autonomous vehicle technologies. Therefore, investing in Recogni perfectly supports our high-performance computing strategy for autonomous vehicle functions,” says Rouven Spinner, Investment Partner at Continental. “Our shared focus and complementary expertise enable us to see the value of Recogni’s vision cognition technology.” Also Luis Llovera Managing Director of Continental competitor Robert Bosch Venture Capital, recognized the technological potential of Recogni’s development. Llovera attested to the Recogni technology an “outstanding performance” and an enabler to fully automated driving.

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