Startups are dominating the auto industry, creating new technologies in record time.
Martin Zwilling, finance editor at Forbes said, “A new era for entrepreneurs and startups has begun”.
“Funding for early-stage startups is more available than ever. According to David S. Rose, CEO of Gust, venture capital investors funded about 1500 startups last year, with Angel investors backing over 50,000 more”.
Finance expert Shane Perry from Max Funding say’s, “Venture Capitalists and financial institutions need to offer more business loans and seed capital to Australian start-ups if they hope to see sustainable job growth into the future. Small business is critical to local economies. SME’s bring growth and innovation, stimulating economic growth and greater employment opportunities for its citizens”.
Here are the top 5 automotive startups shaking up the automotive car industry in 2019
- Neteera Technologies
Neteera is a startup that’s reinventing sensing technology. They aim at creating sensing technologies for autonomous vehicles. The innovation combines radar and lidar in one device.
Using Sub-Terahertz frequencies, the Neetera innovation is able to sense and detect objects as well as movements through non-transparent and non-conductive materials.
The micro-radar system-on-chip solution is made up of 5 elements including the micro-radar sensor, micro-lenses integrated into the chip packing, proprietary signal processing algorithms, ASIC, and unique chip dual design.
The technology is important for self-driving vehicles. Thus Neteera is among the automotive startups you should watch closely in 2019 and beyond.
A new entrant in the motor vehicle industry, Nuro is concentrating on self-driven car development. Their new prototype R1 is custom-made for driverless delivery and is set to compete with Waymo, Google’s self-driving car project.
Interestingly, Nuro was founded by two engineers who participated in the Google self-driving car project.
Unlike the Google project that focuses on commuter and replacing truck drivers, Nuro focuses on last mile delivery of goods. The driverless Nuro vehicles are styled for transporting groceries, packages, gifts, and other similar goods for transport over short distances.
Their prototype R1 does not have a driver’s seat. It does not have any physical controls that you can see. Nuro is set to shake up the car industry more so on the delivery front.
WayRay is a technology that specializes in improving the drivers and passengers experience by giving them reality vision. The technology helps you to learn about your environment.
The drivers benefit a lot with this technology as it provides real-time visual navigation throughout the city.
The navigation technology highlights environmental objects and any meaningful changes. The holographic AR solutions for transportation provides true augmented reality. Such technology has the highest potential for success, and thus WayRay is among the startups shaking the car industry with innovations.
MightyAI plays an instrumental role in helping the creators of autonomous vehicles with valuable data and structuring that they need to realize a self-driving vehicle.
MightAI provides you with all you need to build your autonomous vehicle program.
The company helps other startups to enter into the self-driving vehicle industry. Their business plan is set to ruffle the self-driving-vehicle industry and check any monopoly by introducing competition. Hence MighAI is among the startups shaping up the automotive industry.
Cognata is another startup that’s focusing on the autonomous motor vehicle industry. The startup creates virtual cities that mirror their real-time counterparts by using deep learning and detailed mapping.
Companies can use the Cognata technology to train their autonomous vehicle software before they take them to the streets. It is valuable for the autonomous companies as they can test thousands of vehicles without necessarily producing the vehicles. The technology is safe and also scalable.
Startups are coming up with technological innovations that are shaping the automotive industry. The innovations are not just centered on new cars; they are also focusing on improving the overall experience of motorists.
Some startups like MightyAI are making it possible for many other companies to venture in the autonomous vehicle industry.