Bengaluru-based self-driving vehicle startup Minus Zero declared it has brought $ 1.7 million up in a funding round led by Chiratae Ventures. JITO Angel Network and senior executives from tech organizations like Nvidia, and Lyft additionally took part in the funding round. Angel investors from the autonomous vehicles industry, including senior chiefs from NVIDIA and Lyft based out of Silicon Valley, took an interest in the round. The organization said it will use the funding for building an autonomous vehicle R&D infrastructure and growing its group.
The company plans the public launch of its first AV use-case in late 2022 to early 2023, potentially making it one of the first to get a product out in the market.
“Autonomous vehicles (AV) are no more a thing of the future and need to become a reality now. Scaling AV adoption beyond the current limited usage in specific cities and high-end cars, requires a reimagination beyond relying on expensive technologies like Lidar and training over millions of hours of data,” said TCM Sundaram, founder and vice chairman of Chiratae Ventures.
From what started merely as a research paper a few years back, Gagandeep Reehal and Gursimran Kalra founded Minus Zero in 2021. In terms of technology Minus Zero relies solely on a monocular camera for sensing and using compute much less than what one might use to play modern computer games.
Gagandeep Reehal, CEO & CTO said, “With multiple patents in the pipeline, our proprietary approach towards self-driving mimics human intuition giving the software an ability to gain confident insights even with lesser data inputs. This enables robust decision making, which is crucial for safe navigation in scenarios where extrinsic factors like poor traffic infrastructure, rash driving, harsh weather, etc. would have otherwise compromised with the safety of the vehicle. Safety is and will be our foremost priority.”
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