Hungarian AImotive received usd 20 million investment, thereby becoming the most funded self-driving technology software company in Europe

AImotive, providing solutions based mainly on AI-powered, vision-first automated driving software, received USD 20 million investment, thereby becoming the most capitalized member of the top self-driving technology startups in Europe. Lead Ventures was the lead investor of the round, international investors of previous investment rounds as well Hungarian Szechenyi Investment Fund joined the round. Including previous investments, AImotive’s capitalization has increased to above USD 75 million.

The company founded in 2015 by László Kishonti focuses on the most advanced areas of self-driving available today, and has, since its foundation, been working on creating systems available to everyone. The majority of company developments are carried out in its Hungarian headquarters, in addition, it has offices on three continents. AImotive employs over 200 professional experts, including one of the largest artificial intelligence research groups of Europe. The company runs its test cars equipped with special sensors in the USA in Japan and in many European countries, and collaborates with the largest car industry partners.

AImotive in its latest fundraising, has received another major boost totaling USD 20 million. With this investment, AImotive has currently become the startup with the most venture capital in the Hungarian market. Moreover, it happened in the era of economic downturn caused by COVID-19, which clearly signals that there is great market demand for the solutions of the company in the area of automation. Investors and market players are also encouraged by the fact that the market of self-driving softwares could grow to USD 50 billion by 2050.

„Considering that AImotive managed to successfully increase capital even in the current situation, mirrors the overall professional recognition our developments enjoy. Our products provide available and affordable solutions to real problems and do not only hold promises of future success. This has been recognized by our investors as well, among others, that is why they have given us their vote of confidence” – stated Mr. László Kishonti, founder and CEO of AImotive.

„The success of AImotive is owed to its philosophy: the team approaches a complex problem in a comprehensive, modular and platform independent manner, moreover, it tackles several aspects of self-driving from simulation to chip design” – stated Mr. Ábel Galácz, the lead investor of the transaction, CEO of Lead Ventures.

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