AsianScientist (May 26, 2016) – Software developer for self-driving cars, nuTonomy Inc., has announced the completion of a US$16 million Series A funding which included participation from EDBI, the dedicated corporate investment arm of the Singapore Economic Development Board. nuTonomy is on track to be the first company in the world to deliver an autonomous taxi service, and plans to launch a commercial offering in 2018.
The company currently operates an R&D fleet of autonomous vehicles (AVs) in Singapore, where it was the first private company to win governmental approval for testing on public roads. nuTonomy’s AV experience draws on a self-driving car trial launched just last year by two Singapore-based universities.
In addition to Singapore, nuTonomy is operating self-driving cars in the US and the UK, where it tests its software in partnership with key automotive industry players.
“nuTonomy’s self-driving vehicle software unlocks access to a multi-trillion dollar global ‘robo-taxi’ opportunity. This funding will accelerate the pace of our progress in deploying self-driving vehicles in Singapore and beyond,” said Dr. Karl Iagnemma, co-founder and CEO of nuTonomy.
Currently, nuTonomy is developing a comprehensive solution for operating large fleets of autonomous taxis. This includes software for autonomous vehicle navigation in urban environments; smartphone-based ride hailing; fleet routing and management; and controlling a vehicle remotely through tele-operation.
In the AV space, the company has also pioneered technologies for motion planning and decision-making by drawing from tried-and-tested methods employed in the development of spacecraft, airplanes, and other complex, safety-critical autonomous systems.
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Source: EDBI; Photo: nuTonomy.
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