Automotive biometrics sector sees big wins for global reach and adoption
The bank is open for companies working in automotive biometrics and Artificial Intelligence (AI), as three players in the sector have recently enjoyed key business wins.
Cipia, an Israel-based company that provides in-cabin automotive biometrics solutions, has secured more than US$9 million in funding to develop its biometric sensor technology and reach across global markets, according to a company announcement.
“This investment is a powerful vote of confidence in Cipia’s business strategy, from both new and existing investors,” says Yehuda Holtzman, the CEO of Cipia. “We will use this new funding to expand our business activity in global markets, specifically the U.S., Europe and China, and strengthen our presence in these markets as a dominant player in the growing vehicle in-cabin monitoring market.”
The funding came via Private Investment in Public Equity (PIPE), and was led by a company stakeholder and member of Cipia’s board, Alexandre Weinsten, through a separate, private entity.
Meanwhile, Mobileye, a subsidiary of Intel that provides advanced driver-assistance systems (ADAS) and autonomous driving technologies and solutions, has announced further moves to anchor its financial future as a leader in automotive biometric systems. On October 3, the company publicly filed a registration statement with the U.S. Securities and Exchange Commission (“SEC”), relating to a proposed IPO of its Class A common stock. Founded in 1999, the company hit a milestone in 2021, shipping its hundred-millionth EyeQ chip, which powers its autonomous driving technology.
Mobileye’s technology is used by Ford and other automakers.
Finally, Netradyne, which provides fleet safety solutions in the form of advanced AI dash cams for commercial vehicles, scored a win when its client, Best Logistics Group, reported significant improvements to driver safety and decreased insurance claims as an outcome of adopting Netradyne’s AI-assisted Driver•I camera system. According to a company announcement, Best Logistics found that the platform’s real-time audio alerts, data tools and HD video quality helped improve safety, training and the company’s ability to defend drivers against false claims.
Not everyone, however, is celebrating. The rise in adoption of automotive biometrics and other surveillance technologies has drawn complaints from some drivers, who see in-cabin AI monitoring as an infringement on privacy.