Apex.AI Receives Significant Funding to Develop New Processes in Autonomous Vehicle Manufacturing

Apex.AI recently announced that it has raised $56.5 million in Series B funding, led by Orillion Investment Firm, Continental AG, Airbus Ventures, Jaguar Land Rover’s InMotion Ventures, and other companies to develop new markets for autonomous vehicles.

 

Apex.AI hardware installed in the back of an SUV. Image used courtesy of Apex.AI

 

Since 2017, Apex.AI has been developing software and hardware solutions for the autonomous vehicle market. With this new funding, they plan to expand into other markets, such as shipping, mining, agriculture, and other such areas where autonomous vehicles can make jobs safer and more efficient.

 

Series B Funding

Series B funding is typically awarded to companies that already have a significant start to their business. It comes from investors who are looking at a company to expand its markets, continue research or some other expansion activity.

With Apex.AI’s experience in the autonomous vehicle world, there is potential for expanding markets and a growing technological footprint.

With this funding, Apex.AI will also add two new board members, including Ahmed Sallam from Orillion Investment Firm and Paul Balciunas, CFO of Apex. They will also partner with Tavis Szeto, a former Panasonic executive, to expand all capabilities into the Asian markets.

ZF, a vehicle technology company, has also taken a 5% share in Apex.AI. This acquisition will help bring Apex.AI’s operating system (Apex.OS) to market much more quickly.

 

Apex.AI’s Capabilities and Products

Apex.AI has been developing autonomous vehicle hardware and software for passenger vehicles. Their two chief products are Apex.OS, an operating system for mobility and smart machines, and Apex. Middleware acts as a communications integrator for different vehicle and machine-bound systems.

 

Apex.AI software visualization. Image used courtesy of Apex.AI

 

Apex.OS is a meta operating system, meaning it has all of the components one would expect to interface, such as hardware abstraction, message handling, and so on, but is actually built on top of an existing operating system. Apex.AI has built a meta-operating system on top of Robot Operating System (ROS) and Eclipse iceorxy, both of which are open-source operating systems used in autonomous robots.

By doing so, they have created a fast, proprietary system on top of an adaptable, open-source operating system, taking advantage of all of the safety standards and certifications found in ROS. Their system speeds up the processing time and makes relevant data available much more quickly.

 

Potential Applications

While self-driving cars get the attention of the media, there are many other applications that will benefit from autonomy. Autonomous mining equipment, often deployed in dangerous locations such as open pits or underground mines, will keep workers safe.

 

Apex.AI software visualization. Image used courtesy of Apex.AI

 

Farm machinery run by algorithms instead of farm boys will crush fewer crops, as well as keep accurate records of soil conditions, moisture, and crop yield to optimize future plantings. Factory robots running autonomously can optimize assembly and manufacturing processes while safely navigating the factory floor and avoiding collisions with their human counterparts.

In the near future, many driving-related tasks on and off-road may feature Apex.AI components and software, thanks to this Series B funding.