Ethernovia secures over $90m in Series B funding for autonomous vehicles [Yahoo! Finance]
PORSCHE AUTOMBL UNSP/ADR (POAHY)
NASDAQ:AMEX Investor Relations:
porsche-se.com/en/investor-relations
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Source: Yahoo! Finance
The funding round was led by Maverick Silicon, with participation from Socratic Partners, Conduit Capital and CDIB-TEN Capital. Existing backers, including Porsche, Qualcomm Ventures and Fall Line Capital, also invested additional capital. Ethernovia develops ethernet-based packet processors designed to handle real-time sensor, artificial intelligence (AI) and control data in software-defined autonomous vehicles and robots. Its products are positioned as a data backbone for future automotive platforms, including autonomous driving and advanced driver assistance systems (ADAS), as well as applications in robotics and industrial machinery. Ethernovia stated that the new funding will be used to speed up development and production of its next-generation packet processor family, strengthen its software and systems capabilities, and support customer engagements across automotive and robotics. The company said its processors are built to aggregate and route “high-bandwidth” sensor
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