Foretellix Ltd.

Based in Israel, Foretellix Ltd. operates as a provider of innovative data automation solutions for the development and validation of AI-powered autonomous vehicle systems. Foretellix specializes in the creation of tools for autonomous vehicle validation and was founded in 2018 in Ramat Gan, Israel. The company has secured a total of 6 deals, with the most recent deal completed on December 5, 2023.

They raised USD 85. 00 mn in Series C funding, led by returning investor 83 North, alongside participation from multiple investors including NVIDIA Corporation and Volvo Group Venture Capital. The company was co-founded by Gil Amid and Yoav Hollander, with Ziv Binyamini serving as CEO. Foretellix specializes in data automation solutions for the development and validation of AI-powered autonomous vehicle (AV) stacks.

Their primary product, the Foretify platform, facilitates OEMs and AV developers in training and validating their systems using curated real-world data sets combined with augmented and synthetic data. This toolchain supports the generation of vast quantities of synthetic data to enhance AV performance evaluation, quality assurance, and safety assessments, crucial for identifying coverage gaps. Foretellix serves a diverse client base, including notable automotive companies and technology developers across North America, Europe, and Asia, specifically targeting scalable and efficient validation processes essential for deploying autonomous technologies safely. Foretellix generates revenue through a subscription model for its Foretify platform, tailored for enterprise-level clients in the automotive and technology sectors.

The company engages in business-to-business (B2B) partnerships through direct service agreements with OEMs and AV developers, which typically include access to the platform and ongoing support. They offer tiered service options that allow clients to select plans aligned with their specific needs and project scopes, with revenue driven by the adoption of its flagship toolchain, critical for validation and verification in the autonomous vehicle sector. In December 2023, Foretellix Ltd raised USD 85. 00 mn in Series C funding, aimed at expanding its product line and enhancing its artificial intelligence capabilities.

The recent investment, led by 83 North with participation from several notable investors, will support the development of upcoming products and facilitate entry into new markets. Foretellix is targeting expansion across Europe and Asia, with plans to introduce additional features and enhance its platform by the end of 2024.