MIT spinout Nutonomy supports the move to self-driving vehicles as it raises $3.6m in seed funding.
Nutonomy, a spinout from Massachusetts Institute of Technology (MIT) that develops software for autonomous vehicles, has secured $3.6m in seed capital.
The funding comes from Samsung Ventures, the corporate venturing division of consumer electronics manufacturer Samsung, Signal Ventures, Fontinalis Partners and Steven LaValle, the former chief scientist for virtual reality company Oculus VR.
Nutonomy’s technology has been used and tested by automotive companies in both the US and Europe to create self-driving cars. It is using similar decision-making methods that are used in the development of spacecraft and aeroplanes.
Nutommy will use the funding to develop its product, both in the US and in Singapore.
The company’s technology is based on research at MIT that was supported with funding from Nasa, Darpa and the Singapore-MIT Alliance for Research and Technology.
Karl Iagnemma, chief executive and co-founder of Nutonomy, said: “Nutonomy’s vision is to deliver the world’s smartest autonomous vehicle and be the software engine of automated cars. By applying advanced techniques from the aerospace industry, we are creating a self-driving car that is safe, confident and drives in a truly human-like manner.”
