Mobility software developer Apex.AI has announced a hefty sum of Series B funding to the tune of $56.5 million, bringing its total funding to $74 million raised to date. The Series B round was led by international investment firm Orillion, among several new ventures added to Apex.AI’s investor list.
Apex.AI is a software company based in Palo Alto and multiple German cities that provides certified, developer-friendly products for mobility systems. It targets its software development kit (SDK) toward OEMs that are looking to implement complex AI software throughout a given vehicle.
Furthermore, Apex.AI’s customers are also autonomous driving developers wanting to implement safety-critical applications with reliability. This includes Woven Planet at Toyota, of which we previously shared the news that Apex.AI had been tapped to assist this past spring.
Earlier this year, Apex.AI shared that its meta Apex.OS system had been TÜV NORD certified for functional safety measures to the highest degree. As a result, Apex.AI’s software became production vehicle-ready. Apex.AI CEO and Co-founder Jan Becker describes the technology’s potential:
Disruptions in mobility such as self-driving, connected vehicles, e-mobility and shared mobility all rely on software but lack a unified platform, which prevents integrated development across the vehicle. We introduced Apex.OS as the first mobility software platform that can integrate across all in-vehicle domains and extend into the cloud to solve this challenge.
With its latest announcement, Apex.AI is introducing several new investors to expand the reach of its software technology in transportation.
Apex.AI introduces several new investors, two new board members
In a recent press release, Apex.AI announced the successful Series B funding led by Orillion and joined by other companies such as Continental AG, Airbus Ventures, and Jaguar Land Rover’s InMotion Ventures.
Furthermore, Apex.AI will welcome Orillion partner Ahmed Sallam as a new member to its board alongside Apex CFO Paul Balciunas. According to the press release, Apex.AI will use the $56 million raised to enter markets adjacent to autos including agriculture, robotics, and Internet of Things (IoT).
The company has also shared plans for significant hires at its four locations to more than double its current team. Lastly, Apex.AI shared that the funding will be put toward expansion into Asia as well. Sallam spoke to Orillion’s investment in Apex.AI’s future:
Advanced software has become critical to the success of the automotive industry as vehicles are now more complex than ever. Apex.AI has cornered a unique market by making it easier for manufacturers to implement safety-critical software into mobility systems.
You can check out a video of Apex.AI’s software technology explained below:
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Author: Scooter Doll
Source: Electrek
