Fluxunit, OSRAM’s Venture Capital arm joins leading VC funds well as automotive OEMs and Tier-1 suppliers in the financing round of Recogni.
The Silicon Valley start-up with subsidiary in Munich develops a vision-oriented artificial intelligence (AI) platform for autonomous vehicles, which allows the processing of sensor data from LIDAR (Light Detection and Ranging, a sensor based on infrared light for 3D machine vision that can be used to detect distances amongst other things), camera and RADAR systems in real-time and at low power consumption.
Besides Fluxunit, GreatPoint Ventures, Toyota AI Ventures, BMW iVentures, Faurecia, DNS Capital, amongst others partake in the $25 million financing round.
Recogni plans to use the funds to deliver the most capable perception system to enable state of the art sensor fusion of visual and depth sensor data while continuing to grow its top-tier engineering team. The company is currently in discussions with multiple auto manufacturers, to provide them with the full suite of enabling technology from modules to the software.
The investment in Recogni underlines OSRAM’s transition from a lighting company towards a high-tech photonics company in various future applications such as autonomous driving. Via its venture arm Fluxunit, the company will contribute their extensive know-how in semiconductors for lighting as well as sensing applications in the automotive industry.
Source: Press Release