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(video) PSA Group Driving Assist Software Supplier Becomes ‘Most Funded’ In Europe

PSA Group Driving Assist Software Supplier Becomes ‘Most Funded’ In Europe

Back in 2017 when AImotive was just a startup focused on developing autonomous vehicle tech, they partnered up with the PSA Group with the goal of testing out Level 4 AI-based autonomy on highways in France.

Today, the Hungary-based company is on its way up, having raised $20 million during a new funding round, thus becoming the largest VC-backed company developing driving assist tech in Europe, with a total funding of $75 million.

Furthermore, AImotive, which also supplies three other top 10 global carmakers aside from PSA’s brands, is expanding its operations to Munich and Detroit.

Their client list also includes U.S. chipmaker ON Semiconductor and Japanese electronic specialist Kyocera.

“Most of our customers are automakers and Tier 1 suppliers,” said AImotive CEO and founder Laszlo Kishonti, although he didn’t want to elaborate as to which other carmakers his company is currently working with, as they haven’t given him permission to mention them by name, reports Autonews Europe.

He did however say that his company’s goal is to make sure that automated driving is not just a feature for luxury vehicles, but something that should be available to as many vehicles as possible, given the life-saving benefits it can provide.

One of the aspects of automated driving that AImotive is focusing on is making lane keeping safer and more reliable, which makes sense given how many variables can factor into keeping a vehicle within its lane at all times (bad markings, poor weather etc).

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