foretellix

Background

Foretellix, established in 2018 and headquartered in Tel Aviv, Israel, specializes in safety-driven verification and validation (V&V) solutions for Automated Driving Systems (ADS) and Advanced Driver Assistance Systems (ADAS). The company's mission is to ensure the safe and efficient deployment of autonomous vehicles by providing comprehensive V&V platforms that address the complexities of automated driving. Foretellix's solutions are pivotal in the automotive industry, enabling manufacturers to meet stringent safety standards and accelerate the adoption of autonomous technologies.

Key Strategic Focus

Foretellix's strategic focus centers on delivering scalable and measurable V&V solutions tailored for ADS and ADAS. The company emphasizes:

• Comprehensive Scenario Coverage: Utilizing advanced methodologies to generate and test a vast array of driving scenarios, ensuring systems can handle real-world complexities.

• Integration with Industry Standards: Leading the development and adoption of standards like ASAM OpenSCENARIO® 2.0 to promote consistency and interoperability in autonomous vehicle testing.

• Partnerships with Key Industry Players: Collaborating with major automotive manufacturers, simulation companies, and technology providers to enhance the effectiveness and reach of its solutions.

Financials and Funding

Foretellix has successfully secured substantial funding to support its growth and innovation:

• Series A (January 2019): Raised $14 million led by 83North, Jump Capital, and Nextgear Ventures.

• Series B (September 2021): Secured $32 million with participation from MoreTech Ventures, Volvo Group Venture Capital, Nationwide, NI, and Japan-Israel High Tech Ventures.

• Series C (May and December 2023): Completed an $85 million round led by 83North, with new investors including Temasek, Isuzu, Woven Capital (Toyota's growth fund), NVIDIA, and Artofin VC.

The cumulative funding of $135 million is allocated towards expanding Foretellix's product portfolio, enhancing AI capabilities, and extending its global presence.

Technological Platform and Innovation

Foretellix's flagship platform, Foretify™, offers a suite of tools designed to streamline the V&V process:

• Foretify Core™: A virtual test generation and execution engine integrated with leading simulators.

• Foretify Developer™: Tools for scenario development, debugging, and visualization of test results.

• Foretify Manager™: A V&V management and analytics tool for creating and executing metric-based plans.

• Foretify LogIQ™: An automated drive log analysis tool that identifies scenarios of interest and detects anomalies.

• Foretify V-Suite™: Pre-built V&V libraries to accelerate project timelines.

A distinguishing feature of Foretellix's technology is its leadership in developing the ASAM OpenSCENARIO® 2.0 standard, revolutionizing safety development and testing in automated driving systems. The Foretify platform is the industry's first to offer native support for this standard.

Leadership Team

Foretellix's leadership comprises seasoned professionals with extensive experience in verification and validation:

• Ziv Binyamini, CEO & Co-Founder: Former Corporate VP at Cadence Design Systems, leading the simulation and verification business.

• Yoav Hollander, CTO & Founder: Inventor of the "e" verification language and founder of Verisity, acquired by Cadence.

• Gil Amid, Chief Regulatory Affairs Officer, VP Operations & Co-Founder: Expert in regulatory affairs and operations within the autonomous vehicle sector.

Competitor Profile

The autonomous vehicle V&V market is experiencing significant growth, driven by the increasing adoption of ADS and ADAS technologies. Key competitors include:

• dSPACE: Offers simulation and validation solutions for automotive applications.

• Cognata: Provides simulation platforms for testing and validation of autonomous vehicles.

• Applied Intuition: Develops software tools for autonomous vehicle development and testing.

Foretellix differentiates itself through its comprehensive scenario coverage, integration with industry standards, and strategic partnerships.

Strategic Collaborations and Partnerships

Foretellix has established significant collaborations to enhance its market position:

• Torc Robotics (January 2023): A multi-year collaboration to enable safe deployment of Level-4 autonomous trucks.

• Geely (Date Not Specified): Partnership to accelerate autonomous vehicle development.

• Nuro (Date Not Specified): Collaboration to advance safe deployment of autonomous vehicles.

These partnerships underscore Foretellix's commitment to advancing autonomous vehicle safety and deployment.

Strategic Opportunities and Future Directions

Foretellix aims to leverage its technological strengths and strategic partnerships to:

• Expand Product Offerings: Develop new AI capabilities and enhance existing platforms.

• Global Expansion: Increase presence in key markets across North America, Europe, and Asia.

• Industry Leadership: Continue leading the development of industry standards and best practices.

By focusing on these areas, Foretellix is well-positioned to address the evolving needs of the autonomous vehicle industry and drive the safe deployment of ADS and ADAS technologies.