Gothenburg, Sweden-based Annotell this morning announced that it has secured a €5.8 million Series A financing round to further develop its analytics and annotation platform, which enables carmakers to ensure the performance of self-driving cars’ perception systems.
The company says the funding round, which was led by Ernström & Co and Stena Sessan, will help the startup solve one of the most pressing issues in the growing autonomous vehicle industry: assisting car makers to have their self-driving vehicles 'see and understand' its surroundings.
Launched in 2018, Annotell co-founder and CEO Daniel Langkilde says the company has already inked deals with the likes of Volvo Group and Zenseact, with more mobility players lined up.
"Quality assuring perception systems is one of the biggest obstacles in building and rolling out autonomous vehicles more broadly, simply because it’s been so complex and expensive. We make it cheaper, faster, and easier to get the right data to train and validate the systems that self-driving cars rely on," Langkilde said in a statement.
The startup also said it has hired Emil Dautovic as their first VP of Sales. Dautovic was formerly VP of Automotive at Mapillary, the mapping tech company that was recently acquired by Facebook.
Annotell has previously raised €1.1 million in seed funding, bringing the total amount raised to just south of €7 million.