Helm.ai, a California-based startup developing software designed for advanced driver assistance systems, recently raised $31 million in a Series C funding round led by Freeman Group, only one year after it secured $26 million in venture funding.
Its partners, including Amplo and strategic investors Honda Motor, Goodyear Ventures, and Sungwoo Hitech, have pushed Helm.ai’s valuation to about $431 million.
Founder of the Freeman Group, Brandon Freeman, is joining Helm.ai’s board of directors as part of this financing. The company has raised $78 million to this date.
The six-year-old startup, Helm.ai, uses an unsupervised learning method to develop software that can train neural networks without the requirement for large-scale fleet data, simulation, or annotation.
Helm.ai provides its software to various Tier 1 suppliers and OEMs in the automotive industry to help them achieve software differentiation with high-end ADAS and L4 solutions.
The recent funding will add more employees to the 50-person workforce, R&D, and will help towards establishing several commercial partnerships.