Phiar Technologies raises $12 million
Phiar Technologies, which offers a navigation system that combines AI and augmented reality, announced the close of a new $12 million Series A funding round and the hiring of new CEO Gene Karshenboym, formerly Google’s Global Head of Android Automotive Platforms. The round was led by State Farm Ventures, with participation from Cambridge Mobile Telematics, Telenav, Norwest Venture Partners, The Venture Reality Fund, and GFR Fund.
Founded in 2017, Phiar enables vehicles to understand the environment better in real-time for intelligent navigation, smart parking, HD mapping, vision-based live road detections, traffic conditions and more. The startup is working closely with major automotive OEMs such as Nissan; global tier-1 suppliers including Panasonic Automotive and Bosch, leading maps and navigation vendors such as TomTom and HERE.
“It is truly impressive the success and growth that Chen-Ping and the Phiar team have already achieved by developing intelligent AR navigation solutions with their lightweight spatial-AI technologies, that will bring drivers and passengers a driving experience like never before. As the global automotive industry is on the cusp of a major shift to AI-based technology integration, it’s an exciting time to be joining Phiar and I look forward to building long-term strategic relationships for the company and with partners.” – Gene Karshenboym, CEO of Phiar.
“Our mission is to enable human-like perception for every vehicle, revolutionizing navigation interaction and how we experience the world. First, focusing on the automotive industry. Gene’s addition to our leadership team, bringing his track record of successful partnerships in the automotive industry, and our new injection of funding will enable us to further develop and differentiate our AI engine and camera-based AR technology, expand our integrations across OEMs and our partnerships with Tier-1 companies, and build our go-to-market resources for key markets.” – Chen-Ping Yu, founder and CTO of Phiar.
“Phiar is well-positioned to build upon its success in the automotive industry by providing superior, real-time road perception AI. Visual applications are the future of mobility experience and safety, and we believe Phiar’s spatial AI-based solutions are uniquely positioned to help drivers safely navigate, interact, and experience the world. We are excited about everything Chen-Ping and the team have built to date and are happy to partner with Gene and the team going forward.” – Michael Remmes, VP, State Farm Ventures.
