The collision-aversion technology startup for motorcycles Ride Vision raised $7 million in Series A funding round led by OurCrowd with the participation of YL Ventures, Mobilion VC and Metagal.
With this round of funding, the Israeli startup has raised a total of $10 million to date. The new funding will be used for product innovation and the company's expansion, said a statement.
The company also announced the launch of itsAI-driven, safety-alert system technology to prevent motorcycle collisions on the road and a partnership with the automotive giant Continental AG as latter's Head of ADAS Christian Weber joined Ride Vision board.
“As motorcycle enthusiasts, we at Ride Vision are excited at the prospect of our international launch and our partnership with Continental,” said Uri Lavi, CEO and Co-Founder of Ride Vision.
With the combination of image-recognition and AI technologies, the company's human-machine warning interface (HMI) and predictive vision algorithms help riders make critical life-saving decisions in real time.
The hardware includes two wide-angle cameras mounted on both the front and rear of the vehicle, alert indicators placed on the mirrors, and an onboard main computing unit that stores Ride Vision's algorithms.
The company's products will be available in several European countries starting early 2021; namely Italy, Germany, Austria, Spain, France, Greece, Israel, and the UK. Its products will also be available in the U.S. and Brazil, Canada, Australia, Japan, India, China, and others.
“We are proud to be leading this investment round in Ride Vision,” says Jon Medved, OurCrowd CEO. “This company has both a cutting edge product for this huge underserved market and the ability to save so many lives. It doesn't get better than this.”
Ride Vision's board of advisors includes several automotive industry veterans, namely Continental Head of Advanced Engineering ADAS Christian Weber; former BMW-Motorrad Executive VP of Motorcycle Engineering, Prof. Karl Viktor Schaller; and Energica Motor Company S.p.A., CEO Livia Cevolini.
Ride Vision was founded in 2018 by Uri Lavi and Lior Cohen.
