Ride Vision, an Israeli startup building an AI-powered security system to prevent motorcycle collisions, announced today that it has launched a $ 7 million Series A round led by crowdsourcing platform OurCrowd . MobilL VC and the motorcycle mirror manufacturer Metagal also took part in this round. YL Ventures, which typically specializes in cybersecurity startups but also led the company's $ 2.5 million startup round in 2018, also participated in this round. The company has now raised a total of $ 10 million.
In addition to this new financing round, Ride Vision today announced a new partnership with automotive parts manufacturer Continental .
"As motorcycle enthusiasts, we at Ride Vision are excited about the prospect of our international launch and our partnership with Continental," said Uri Lavi, CEO and co-founder of Ride Vision, in today's announcement. "This moment is an important milestone as we move closer to our dream of giving bikers the opportunity to feel really safe while riding."
The general idea here is pretty simple and similar to the blind spot monitoring system in your car. With the help of Computer Vision, Ride Vision's system, Ride Vision 1, analyzes the traffic around a driver in real time. It provides forward collision warnings and monitors your blind spot, but can also let you know if you are following another driver or car too closely. It can also simply record your ride and soon make emergency calls on your behalf if something goes wrong.
As the company argues, the number of motorcycles (and other motorized two-wheelers) only increased during the pandemic when people started avoiding public transportation and looking for relatively affordable alternatives. In Europe, sales of two-wheelers rose 30% during the pandemic.
The hardware on the bike itself is pretty simple. It contains two wide-angle cameras (one at the front and one at the rear) as well as warning indicators on the mirrors and the main processing unit. Ride Vision holds patents for the human-machine warning interface and the vision algorithms.
It is worth noting that there are already some motorcycle blind spot monitoring solutions out there, including those from Innovv and Senzar. Honda also has patents on similar technologies. These do not offer the 360-degree view that Ride Vision is aiming for.
According to Ride Vision, the products will be available in Italy, Germany, Austria, Spain, France, Greece, Israel and the UK in early 2021. The USA, Brazil, Canada and Australia, Japan, India, China and others will follow later.