Nauto receives undisclosed amount of funding from BMW, Toyota and Allianz Group
Self driving cars are all in the rage these days.While companies that are actually manufacturing these cars are important, startups that are collecting the data that could be used to make our cars smarter and more efficient, are just as significant.Emphasizing the point BMW, Toyota and Allianz Group have come together to invest an undisclosed amount in self-driving car tech startup Nauto.
BMW, Toyota and Allianz to work with autonomous start-up Nauto
Toyota, BMW and insurer Allianz will license technology from Silicon Valley start-up Nauto, which uses cameras and artificial intelligence systems in cars to understand driver behavior.Nauto Chief Executive Stefan Heck told Reuters the carmakers and insurer will integrate the technology into their test vehicles and use the aggregate and anonymized data – whether on driving habits, difficult intersections, or traffic congestion – to help develop their autonomous vehicle strategies.Terms of the deal were not disclosed, but the parties will each have an equity stake in Nauto.
BMW, Toyota and Allianz back NAUTO and its camera-based approach to making autonomous vehicles
A self-driving car tech startup called NAUTO has raised an undisclosed amount of venture funding, and entered into data-sharing partnerships with big-name auto and insurance companies BMW, Toyota and Allianz Group.Specifically, BMW iVentures, Toyota Research Institute and Allianz Ventures have invested in NAUTO's Series A round.The startup and its investors declined to disclose the amount of funding newly invested in the extension.