CorrActions News
5 articles
growth-positive
CorrActions raises $7.25 million to prevent vehicle accidents through AI-based brain activity monitoring | CTech
Israeli AI-based driver safety startup, CorrActions, has raised $7.25 million in a Series A funding round. The round was led by Volvo Cars Tech Fund and included participation from BlackBerry and several venture capital firms. CorrActions has developed software that uses existing human-motion sensors in vehicles to detect abnormalities in the cognitive state of drivers and passengers. The software can be implemented in consumer vehicles through Over-the-Air (OTA) software updates and does not require or capture any Personal Identifiable Information (PII). The company is currently engaged with multiple automakers to implement its solution in their vehicles.
Investment
growth-positive
Volvo invests in Israeli brain monitoring co CorrActions
Volvos cars tech fund has made a strategic investment in CorrActions, an Israeli driver monitoring company. CorrActions uses AI software to track unconscious, uncontrollable muscular sub-movements, such as those from steering wheels, to monitor brain activity and detect cognitive states like fatigue, inattention, anxiety, and intoxication. The investment is part of a Series A financing round expected to reach $6 million, with other investors including OurCrowd and Next Gear Ventures. Volvo sees CorrActions technology as a complement to its future safety systems and aims to be a strategic partner for innovative startups in the industry.
Investment
growth-positive
Volvo Cars Tech Fund invests in driver monitoring startup CorrActions
Israeli startup CorrActions has raised a strategic investment of $6 million from Volvo Cars Tech Fund. CorrActions has developed a driver monitoring system that uses sensors in the car to monitor the drivers micro muscle movements and evaluate their cognitive state. The system can determine if the driver is tired, distracted, or intoxicated. The company is also working with OEMs and fleet managers to monitor driver capabilities and is exploring using the system to monitor passenger motion sickness. Volvo Cars Tech Fund sees CorrActions as a strategic partner to enhance their position as a tech leader in the industry. CorrActions previously raised a $2.7 million seed round in 2021 and recently appointed Ilan Reingold as CEO.
Investment
growth-positive
Volvo Cars Tech Fund invests in AI start-up CorrActions
Volvo Cars has made a strategic investment in CorrActions, an Israeli deep-tech brain monitoring AI start-up. The AI-powered software developed by CorrActions can detect abnormalities in the cognitive state of drivers and passengers, based on micro muscle movements that reflect brain activity. The investment was made through the Volvo Cars Tech Fund, the companys corporate venture capital arm. Volvo Cars aims to continue collaborating with CorrActions going forward, with the goal of making cars and the people in and around them safer.
InvestmentPartners
growth-positive
CorrActions raises $2.7M to help avoid errors in human-machine interactions
CorrActions, a noninvasive neuroscience startup, has raised a $2.7 million seed round. The company uses sensor data to evaluate a users cognitive state and prevent errors caused by drowsiness, alcohol, fatigue, and other issues. Its algorithms can identify cognitive state and detect errors before they occur. CorrActions is already working on proofs of concept with players in the automotive industry and the defense industry. The funding will be used to further develop algorithms and support deployment partners, especially in the automotive industry.
Investment
