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Funding
Foretellix raises USD 85 million in Series C funding to further develop tech and expand team
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Dec 5, 2023
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Auto Tech
Dec 5, 2023

Foretellix raises USD 85 million in Series C funding to further develop tech and expand team

Funding

  • Foretellix, an Israel-based developer of verification and validation platforms for advanced driver assistance systems (ADAS) solutions, has closed its Series C at USD 85 million. The round was led by 83North, with participation from Temasek, Woven Capital, MoreTech, Nationwide, Volvo Group VC, Jump Capital, Next Gear Ventures, and OurCrowd. This brings the company's total funds raised to USD 135 million.

  • The company intends to utilize the funds to further the platform's development, including integrating more GenAI technologies and scaling up the business operations. The company also plans to expand its workforce from the current 180 employees.

  • Analyst QuickTake: Foretellix raised its Series C funding in two tranches, including today’s close. It first closed the Series C round, raising USD 43 million led by 83North in May 2023 for similar purposes. 

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