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Press release #Venture Capital

Robert Bosch Venture Capital invests in Recogni’s Series B funding round

Delivering high-performance, low-power AI processing for automated driving

  • Robert Bosch Venture Capital invests along a strong investor syndicate of financial and strategic VCs
  • Recogni develops power-efficient perception processing technology for automated vehicles with outstanding performance
  • “Recogni´s AI-powered inferencing platform can accelerate the development of ADAS functionalities and autonomous driving solutions” says RBVC Managing Director Ingo Ramesohl

Aron Bahnmüller >

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Stuttgart, Germany – Robert Bosch Venture Capital GmbH (RBVC), the corporate venture capital company of the Bosch Group, has completed an investment in Recogni Inc., a start-up headquartered in San Jose, California with an engineering office in Munich, Germany. Recogni develops an AI-powered inferencing and perception platform for autonomous vehicles and Advanced Driver-Assistance Systems (ADAS) applications. Their power-efficient processor and perception software enables high-resolution and high-frame-rate image processing from multiple cameras concurrently in real time.
The 48.9 million USD round is led by WRVI Capital; other new and existing investors include the Mayfield Fund, Continental, Toyota AI Ventures, BMW iVentures, FluxUnit, and DNS Capital.

“Recogni’s AI-powered inferencing platform can accelerate the development of ADAS functionalities and autonomous driving,” says Ingo Ramesohl, Managing Director at RBVC. “The outstanding power efficiency of Recogni’s solution has the potential to fundamentally change the current landscape for automated driving processors.”

Exceptional performance and team

One of the key challenges that Recogni’s AI-powered platform addresses is the enormous power drain of autonomous vehicle computing systems that can drastically reduce the range of electric cars. By leveraging innovations in artificial intelligence, application-specific integrated circuits (ASICs) and system software, Recogni’s inferencing and perception solution will deliver outstanding performance at ultra-low power consumption for ADAS applications and autonomous vehicles. According to ResearchandMarkets the global ADAS market size is projected to grow from 27 billion USD in 2020 to 83 billion USD in 2030. Recogni has the chance to participate in this growth with their vision-based inference and perception solution, which can scale from supporting safety features to full vehicle autonomy.

“We are moving along our journey of solving the challenge of perception processing and power efficiency by building the world’s highest performing AI inference system at the lowest energy consumption,” says R K Anand, Recogni’s Chief Executive Officer. “RBVC’s support is a strong endorsement of Recogni’s approach to solving the most difficult problems in developing autonomous vehicles.”

Recogni was founded 2017 in Silicon Valley by experts in ASIC, System, and Software design. The Recogni team has a proven track record in bringing advanced technologies and products to large markets.

About RBVC GmbH

Robert Bosch Venture Capital GmbH (RBVC) is the corporate venture capital company of the Bosch Group, a leading global supplier of technology and services. RBVC invests worldwide in innovative start-up companies at all stages of their development. Its investment activities focus on technology companies working in areas of business of current and future relevance for Bosch, above all, automation and electrification, energy efficiency, enabling technologies, and healthcare systems. RBVC also invests in services and business models as well as new materials that are relevant to the above-mentioned areas of business.

Additional information is available at www.rbvc.com

The Bosch Group is a leading global supplier of technology and services. It employs roughly 394,500 associates worldwide (as of December 31, 2020). According to preliminary figures, the company generated sales of 71.6 billion euros in 2020. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT provider, Bosch offers innovative solutions for smart homes, Industry 4.0, and connected mobility. Bosch is pursuing a vision of mobility that is sustainable, safe, and exciting. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to facilitate connected living with products and solutions that either contain artificial intelligence (AI) or have been developed or manufactured with its help. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiary and regional companies in 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. The basis for the company’s future growth is its innovative strength. At 126 locations across the globe, Bosch employs some 73,000 associates in research and development, as well as roughly 30,000 software engineers.

Additional information is available online at www.bosch.com, www.iot.bosch.com, www.bosch-press.com, www.twitter.com/BoschPresse.

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