VAYAVISION has announced that it is the recipient of a €2.45 million SME Instrument Grant from the European Commission’s European Innovation Council (EIC) to support promotion to and penetration of the European market.
VAYAVISION is a provider of perception software solutions for autonomous vehicles using raw data fusion with up-sampling. The company’s winning proposal, “Seeing the View,” detailed using the funding to support activities involved in bringing the company’s debut perception software product, VAYADrive 2.0, to the European market, including: adapting and customizing VAYADrive 2.0 in preparation for European market; marketing and support infrastructure; training; and local European presence and support teams to assist EU-based OEMs and Tier 1s.
Debuted in January 2019, VAYADrive 2.0 is an AV perception software engine based on raw data fusion and upsampling technique, computer vision, and AI tools, which claims to create accurate and reliable 3D environmental models of the area around self-driving vehicles. The environmental model provides object list on a fine grid with timing and velocity vectors. It is currently in use by leading OEMs and Tier 1 suppliers.
The EIC supports innovators, start-ups, small companies and researchers to scale up internationally. Between 2018 and 2020 the EIC pilot will provide €2.7 billion to breakthrough, market-creating innovations via four programs (including the SME Instrument); opportunities for networking, mentoring and coaching; and strategic advice to upgrade the innovation ecosystem in Europe. The SME Instrument is part of the EIC pilot, providing about €1.6 billion in funding over the period 2018-2020 and available to SMEs only.
Source: Press Release