Ottometric announces the successful closure of a $10 million Series A financing round to enhance its AI-powered ADAS validation platform, targeting inefficiencies in automotive safety technology development.

Target Information

Ottometric is an emerging technology firm specializing in the validation of Advanced Driver Assistance Systems (ADAS). The company recently announced the successful closure of its $10 million Series A financing round, which aims to accelerate the development of its innovative ADAS validation platform. Led by Schooner Capital, this investment also saw participation from existing investors Rally Ventures and Proeza Ventures, along with new investors PS27 and Somersault Ventures.

As a key player in the automotive technology space, Ottometric is addressing the increasingly complex and costly validation processes of ADAS, which encompasses crucial safety features such as Automatic Emergency Braking (AEB) and Lane Departure Warning (LDW), as well as driver-assistance functions like Adaptive Cruise Control (ACC) and Traffic Sign Recognition (TSR).

Industry Overview

The ADAS industry is currently experiencing rapid growth due to rising consumer safety expectations and stringent regulatory requirements. As automakers and suppliers strive to inte