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Autonomous vehicle simulation startup MorAI raises $20 million funding

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MorAI, a developer of autonomous vehicle simulation technology, has secured a $20 million Series B funding round.

The round includes investment from new investors Korea Investment Partners, KB Investment, and the state-run Korea Development Bank, as well as from existing investors Naver’s D2 Startup Factory, Hyundai Motor Group’s Zero1ne, Kakao Ventures, and Atinum Investment, bringing MorAI’s total funding to date to $25 million.

MorAI was co-founded in 2018 by three autonomous driving researchers from the Korea Advanced Institute of Science and Technology. Ever since, the company has established itself as South Korea’s sole provider of full-stack autonomous vehicle simulation solutions. [Read more…] about Autonomous vehicle simulation startup MorAI raises $20 million funding

Kuka to build smart factory for digital construction company Admares

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Industrial automation giant Kuka is to build a smart factory for digital construction company Admares.

The two companies say the project will “revolutionize the construction of buildings”.

Admares is said to be “the world’s leading provider of alternative real estate and pioneering construction methods”. And the company is pursuing the vision of future-oriented smart factories. [Read more…] about Kuka to build smart factory for digital construction company Admares

A history of advanced driver assistance systems

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In its report, Autonomous Cars, Robotaxis & Sensors 2022–2042, IDTechEx predicts that SAE Level 3 autonomous features, such as traffic jam pilot, will emerge in 2022 and become common in vehicles by 2042.

How did IDTechEx predict this time scale? The answer lies in the historical adoption trends of advanced driver assistance system (ADAS) technologies.

Everyone is familiar with anti-lock brakes (ABS) and traction control; you would not have even thought to ask about them when purchasing your last car. [Read more…] about A history of advanced driver assistance systems

ABB creates joint venture with China’s largest automotive parts supplier

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Industrial automation company ABB and China’s leading automotive parts supplier, HASCO, have agreed to create a joint venture to drive the next generation of smart manufacturing in China’s automotive industry.

The joint venture will build on the existing successful relationship between the two companies, leading to the crucial development of highly flexible and sustainable auto parts manufacturing within HASCO’s China-based operations.

As the automotive industry’s transition towards electric vehicles gathers pace, parts manufacturers must increasingly invest in flexible facilities that can respond to rapidly changing demands and trends. [Read more…] about ABB creates joint venture with China’s largest automotive parts supplier

NXP and Foxconn agree strategic partnership to accelerate automotive innovation

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NXP, a semiconductor company with a strong presence in the automotive market, has agreed a strategic partnership with Foxconn Industrial Internet, a subsidy company of the Foxconn group, to “transform the car into the ultimate edge device”.

NXP will provide FII with its comprehensive portfolio of automotive technologies.

The initial phase of the joint project will focus on the development of a full digital cockpit solution, based on the NXP i.MX 8 QuadMax. [Read more…] about NXP and Foxconn agree strategic partnership to accelerate automotive innovation

Activ Surgical completes first in-human procedures to demonstrate impact of its surgical intelligence and sensing platform

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Activ Surgical, a digital surgery company, has completed its first in-human surgery clinical trial utilizing the company’s technology-as-a-service bundle – the ActivInsights augmented reality-based software suite and the ActivSight imaging module.

Procedures for the study at The University of Texas Health Science Center at Houston (UTHealth Houston) were led by Dr Erik Wilson, professor in the Department of Surgery at McGovern Medical School at UTHealth and a leading bariatric, endoluminal and robotic general surgeon; and Dr Shinil Shah, associate professor at UTHealth Houston and a preeminent general surgeon with expertise in advanced gastrointestinal surgery.

The safety and feasibility study was conducted across bariatric, colorectal and gallbladder procedures – surgeries in which intraoperative assessment of perfusion and anatomic structures are critical to prevent costly and life-threatening complications. [Read more…] about Activ Surgical completes first in-human procedures to demonstrate impact of its surgical intelligence and sensing platform

Autonomous driving software startup Helm.ai raises $26 million in new funding

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Helm.ai, creator of next-generation AI software for autonomous driving, today announced it has raised $26 million in series B funding.

This funding will help Helm.ai better serve its rapidly growing customer base, and accelerate product expansion of its highly scalable approach to autonomous driving software.

Additional funding in this round was from JM Partners, Base Capital Funding, and Freeman Group, with additional participation from Nicolas Berggruen, ACVC Partners, OneWay Ventures, Binnacle Partners, Nadia Asoyan, Vlad Tenev, Mark Leslie, Jeff Rothschild, and Neil King. [Read more…] about Autonomous driving software startup Helm.ai raises $26 million in new funding

Cimcorp joins MHI’s AS/RS Industry Group to further the development of automated warehousing solutions

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Cimcorp has joined MHI’s AS/RS (automated storage/retrieval systems) Industry Group to further the development of automated warehousing solutions.

The industry group includes 25 of the world’s leading AS/RS suppliers who have installed thousands of systems worldwide, in virtually every manufacturing and distribution sector.

Cimcorp is a manufacturer and integrator of robotic order fulfillment and tire-handling solutions and says it is proud to join the group which focuses on collaboratively growing and supporting the AS/RS market. [Read more…] about Cimcorp joins MHI’s AS/RS Industry Group to further the development of automated warehousing solutions

Sole Source Capital raises $555 million for second fund

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Sole Source Capital, an industrial-focused private equity firm, has closed its second fund, SSC Partners II or “Fund II”, with aggregate total commitments of $555 million.

Fund II was significantly oversubscribed with an initial target of $400 million and reached its hard cap. With the closing of Fund II, Sole Source Capital now manages in excess of $1 billion just three years after the launch of Fund I.

Since 2016, Sole Source has completed 24 transactions focusing on driving rapid value creation in lower middle market companies. [Read more…] about Sole Source Capital raises $555 million for second fund

SIS 2021: The benchmark event for surface inspection and quality assurance systems

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The preliminary agenda is set, exhibitors have confirmed their participation and the doors to the 2021 Surface Inspection Summit (SIS) in Aachen, Germany are ready to open from November 9th to 10th.

Visitors can look forward to the comprehensive agenda covering new developments in industrial and institutional research, spanning industry 4.0, artificial intelligence and automation. Experts will also deep dive into product-specific case studies and share their knowledge and experiences.

Throughout the exhibition, manufacturers of OIS and OIS components will present new breakthroughs and products. [Read more…] about SIS 2021: The benchmark event for surface inspection and quality assurance systems