Phiar Technologies Secures $12M for AI-Powered AR Navigation in Cars
Phiar Technologies, a California-based leader in AI-powered Augmented Reality navigation for driving, has secured $12 million in Series A funding. The round was led by State Farm Ventures, with participation from several notable investors. The company aims to use this funding to accelerate its business with OEMs and Tier-1 partners in the automotive industry.
The funding round saw involvement from Cambridge Mobile Telematics, Telenav, Norwest Venture Partners, The Venture Reality Fund, and GFR Fund. Phiar Technologies, founded in 2016, specialises in developing software for object recognition and autonomous driving. Gene Karshenboym, previously Google's Global Head of Android Automotive Platforms, has joined Phiar as its new CEO.
While specific partnerships resulting from the funding round are yet to be announced, Phiar's technology is expected to enhance safety and navigation in vehicles. The company's AI-powered AR navigation provides real-time, contextually relevant information to drivers, improving their overall driving experience.
Phiar Technologies' successful funding round signals growing interest in AI and AR technologies for the automotive industry. With Gene Karshenboym at the helm, the company is well-positioned to capitalise on this momentum and expand its partnerships with OEMs and Tier-1 suppliers. The $12 million investment will support Phiar's continued innovation in AI-powered AR navigation for driving.
