Drive.ai is really a young Silicon Valley company that is having an enormous 12 months. Right after announcing plans this thirty day period to produce self-driving vehicles for Lyft’s ride-hailing network, the autonomous tech developer has scored financial backing from Southeast Asian rideshare powerhouse Seize and programs to expand into Singapore.
Grab, a Singapore-based Uber rival, was amongst the traders inside a $15 million funding round Drive.ai just finished, boosting its whole funding to $77 million inside the two many years because its founding. The Singapore transfer is strategic since the Asian city-state is moving quickly to undertake autonomous automobiles, Drive.ai CEO Sameep Tandon advised Forbes
“Singapore is a technological juggernaut which has extremely large population density and an existential threat about what is likely to happen to infrastructure because it proceeds to develop,” Tandon mentioned. “It’s not a issue of if self-driving vehicles will occur there, but when. Due to that, there is a whole lot of presidency support.”
Initially, Drive.ai’s Singapore place of work will examine that market like a possible location to deploy automobiles equipped with its software and self-driving hardware kits in authorities and business fleets, Tandon mentioned. Grab will help Drive.ai in that effort.
Amid the rush by automobile and tech firms to perfect robotic automobiles, Tandon and his co-founders, who have been all researchers from Stanford University’s Artificial Intelligence Lab, founded Drive.ai to focus on deep learning-based driving software for business, authorities and shared car fleets. For now, it is program is to modify fleet automobiles with advanced sensors, computers and its software to offer them the ability to drive on their own.