Phantom AI, a startup centered on making a software-based platform for automated automobiles, has secured $36.5 million for its sequence C funding spherical, the corporate stated Wednesday.

The recent funding will assist speed up growth of its vehicle-agnostic and customizable platform.

With this new spherical, Phantom AI has raised $80.2 million since its 2017 founding by former Tesla and Hyundai engineers.

The corporate’s platform options laptop imaginative and prescient, sensor fusion and management capabilities.

Phantom AI, which has moved into a brand new headquarters in Mountain View, Calif., says its work focuses on camera-based options for superior driver-assistance methods. The corporate envisions applied sciences underneath that umbrella as a serious security advance, on par with how seat belts grew to become staples in trendy cars.

“For the subsequent couple of years, we need to construct a sustainable enterprise with ADAS imaginative and prescient,” CEO Hyunggi Cho advised Automotive Information, “after which we need to proceed our pursuit of a full autonomy future.”

The funding spherical was led by South Korean enterprise capital fund InterVest.

“It is a very thrilling time for Phantom AI as prospects are recognizing the important function driver-assisted expertise performs in making cars safer for everybody,” stated Jay Jinhwan Jeon of InterVest.

Different buyers included South Korean funding financial institution Shinhan GIB and the enterprise capital arm of South Korean electronics big Samsung.

“Phantom AI’s ADAS platform is filling an essential market want for extremely revolutionary, efficient and reasonably priced driver-assisted expertise that’s tough to seek out available in the market,” Samsung Enterprise Funding Corp. stated in a press release. “The ADAS market stays sturdy and we see limitless alternative for applied sciences that assist autonomous automobiles particularly as they change into extra mainstream.”

In 2020, Phantom AI raised $22 million in its sequence A spherical from London enterprise capital agency Celeres Investments, Ford Motor Co. and South Korean telecommunications firm KT.

Phantom is engaged on a sequence manufacturing mission for a worldwide automaker, with output scheduled to start out within the fourth quarter, Cho stated. He stated he couldn’t disclose the automaker.