October 17, 2018 / 12:00 PM / a month ago

Israeli autonomous car simulation firm Cognata raises $18.5 mln

JERUSALEM, Oct 17 (Reuters) - Israeli autonomous vehicle simulation platform provider Cognata said on Wednesday it raised $18.5 million in a private funding round led by Scale Venture Partners.

Existing investors Emerge, Maniv Mobility, and Airbus Ventures also participated in the round, as did new investor Global IoT Technology Ventures.

Cognata said the funds would help to grow its engineering group and expand commercial operations in the United States, Europe and Asia.

The firm said its simulation platform combines artificial intelligence, deep learning and computer vision to provide a virtual environment that simulates real-world test driving.

In June, German carmaker Audi AG partnered with Cognata to speed up the development of autonomous vehicles. (Reporting by Steven Scheer; Editing by Tova Cohen)

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