MULTIMEDIA ADD Phiar Technologies Raises $ 12 Million in Series A, Google Director of Android Automotive Platforms Appointed CEO

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Patented AI-Powered AR Navigation Solutions Company Signals Acceleration of Automotive Industry with Expansion and Executive Management Funding to Enable Every Vehicle to Have Human-Like Perception Capabilities

In addition, founder Chen-Ping Yu will transfer his roles to chairman of the board and technical director to focus on cutting-edge space AI technology and product development as Karshenboym embarks to lead the future global growth of the company. Gene Karshenboym brings nearly 10 years of partnership and technology development in the Android and automotive industry and has served on the board of directors of Phiar since 2020.

September 27, 2021 12:09 p.m. Eastern Daylight Time
REDWOOD CITY, Calif .– (BUSINESS WIRE) –Phiar Technologies, a market leader in AI-powered augmented reality navigation for driving, today announced the closing of a new round of Series A funding for $ 12 million and the hiring of new CEO Gene Karshenboym, formerly Global Head of Android Automotive Platforms at Google. The new Series A fund was led by State Farm Ventures, which includes new investors Cambridge Mobile Telematics and Telenav, and previous investors Norwest Venture Partners, The Venture Reality Fund and GFR Fund. The funding will further accelerate Phiar’s business with OEMs and Tier 1 partners in the automotive industry.

Phiar brings perception and intelligence to car navigation. With its advanced and lightweight Spatial-AI engine and Mobility AR engine, it enables vehicles to better understand the real-time environment for intelligent navigation, intelligent parking, HD mapping, live route detections based on vision, traffic conditions and more. Phiar uses modern automotive chipsets, including Qualcomm Snapdragon, and works closely with major automotive OEMs such as Nissan; Global Tier 1 vendors including Panasonic Automotive and Bosch, major map and navigation vendors such as TomTom and HERE.

Yu said, “Our mission is to enable human perception for every vehicle, revolutionizing the interaction of navigation and the way we experience the world. First of all, by focusing on the automotive industry. The addition of Gene to our management team, bringing his experience of successful partnerships in the automotive industry, and our new injection of funding will allow us to further develop and differentiate our AI engine and camera-based AR technology. , expand our integrations between OEMs and partnerships with Tier 1 companies and create our go-to-market resources for key markets.

Karshenboym said, “It is truly impressive the success and growth that Chen-Ping and the Phiar team have already achieved in developing intelligent AR navigation solutions with their lightweight space AI technologies, which will bring drivers and operators alike. passengers a driving experience like never before. As the global auto industry stands on the cusp of a major shift towards the integration of AI-based technology, it is an exciting time to join Phiar and I look forward to forging strategic relationships at long term for the company and with its partners.

Michael Remmes, Vice President of State Farm Ventures®, said, “Phiar is uniquely positioned to build on its success in the automotive industry by providing superior real-time road perception AI. Visual apps are the future of the mobility and safety experience, and we believe that Phiar’s AI-powered space solutions are uniquely positioned to help drivers navigate, interact and experience the world safely. . We are excited about everything Chen-Ping and the team have built to date and are happy to partner with Gene and the team in the future. “

Today’s news follows a recently announced partnership with Panasonic Automotive to integrate Phiar’s AI-powered navigation into its automotive solutions, which will extend driver safety and navigation support.

Founded in 2017, Phiar Technologies is an ultralight computer vision AI company and an emerging leader in augmented reality navigation technology for the automotive industry. Phiar combines its patented innovations in deep learning AI and AR into a new form of driving navigation platform to improve safety, facilitate more intuitive orientation and connect drivers with their surrounding environment. Phiar is based in Redwood City, California with the support of investors from State Farm Ventures, Norwest Venture Partners, The Venture Reality Fund, GFR Fund, Cambridge Mobile Telematics, Telenav, Anorak Ventures, Mayfield Fund, Zeno Ventures, Cross Culture Ventures, Y Combinator, Innolinks Ventures and Half Court Ventures. For more information, visit www.phiar.net.

Summary of the news:

  • MULTIMEDIA ADD Phiar Technologies Raises $ 12 Million in Series A, Google Director of Android Automotive Platforms Appointed CEO
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