State Farm Ventures makes two investments

Last month, State Farm Ventures invested in OWL Autonomous Imaging and Hemlane.

The VC arm led Owl AI’s $15 million Series A round, which included participation from Excell Partners, Luminate NY Accelerator, Empire State Development, MHNW Consortium, Dr. Sanjay Jha, (former CEO of both GlobalFoundries and Motorola Mobility), and others.

Founded in 2018, Owl AI is a developer of patented monocular 3D thermal imaging and ranging solutions for automotive active safety systems. The startup’s 3D sensor uses AI deep learning and foveal optics to extract dense range maps from radiated heat signatures without illumination. It claims that its solutions deliver panoramic thermal imaging and dense range maps superior to active LiDAR or RADAR.

Owl AI isn’t the only car safety startup in State Farm Ventures’ portfolio – last year, the unit invested in PreAct Technologies and Phiar.

“Preventing car accidents of any kind is of critical concern. Owl’s technology is a potential compelling advancement in active safety detection and avoidance of collisions. We are excited to support Owl’s efforts to bring these advancements to the automotive community.” – Michael Remmes, Vice President, State Farm Ventures.

State Farm Ventures also participated in Hemlane’s $9 million Series A round. The California-based startup offers an all-in-one rental management solution for landlords. Hemlane’s software automates the rental lifecycle from finding a tenant to managing repairs and there are currently over 14,000 rentals on the platform.