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FiveAI, an AI software startup targeting autonomous vehicles, has raised $2.7 million in funding in a round led by Amadeus Capital Partners with participation from Spring Partners and Notion Capital.

The company is aiming to utilise the latest in computer vision and AI/machine learning to ensure self-driving cars comprehend and navigate their immediate environment. FiveAI plans to reach simulator and supervised road testing before raising a larger amount of funds. The startup will then begin working with vehicle OEMs to develop production-ready software.

The funding will be used to improve its autonomous vehicle software stack and grow its team of AI/machine learning and other software engineers. FiveAI wants to use AI/machine learning and computer vision to eliminate the requirement for highly detailed “prior 3D mapping” of environments. The startup’s software stack, used along with a range of onboard sensors/cameras aims to allow autonomous vehicles to safely and accurately navigate even complex urban environments with much simpler maps.

“Amadeus is very excited by the investment opportunity arising from advances in autonomous vehicles,” said Hermann Hauser, Amadeus Capital co-founder and partner. “FiveAI has a world-class technology founding team which we have backed three times before and which has successfully build and exited companies worth over $1 billion.”

Hauser added: “We’re excited to support this team in building a European powerhouse for autonomous vehicle technology, through the use of machine learning and state of the art university research to revolutionise the guidance systems for autonomous vehicles.”

 

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