Ride Vision, the world’s first collision-aversion technology (CAT) provider for motorcycles, has completed its $7m Series A funding round, led by OurCrowd, bringing the company to a total of $10m raised to date.
In addition, the company announces the global launch of its AI-driven, safety-alert system to prevent motorcycle collisions on the road. The funding will be used to support the product’s marketing, distribution, and continued development.
Automated technologies for auto is no news, but until now, motorcycles haven’t been privy to take advantage of similar tech. Accounting for the tilt of the bike, and rider behavior, such as riding between lanes and cars, makes the task of a machine recognizing danger a qualitatively different task than it is for cars.
A statement from the company read: “There are over 700 million motorcycles on the road around the world, which account for 28% of all fatal road accidents. Moreover, the pandemic has changed travel habits, and motorcycle rides have skyrocketed. More riders means more risk for accidents.”
“As motorcycle enthusiasts, we at Ride Vision are excited at the prospect of our international launch and our partnership with Continental,” Uri Lavi, CEO and Co-Founder of Ride Vision, says. “This moment is a major milestone, as we stride toward our dream of empowering bikers to feel truly safe while they enjoy the ride.”
“We are proud to be leading this investment round in Ride Vision,” says Jon Medved, OurCrowd CEO. “This company has both a cutting edge product for this huge underserved market, and the ability to save so many lives. It doesn’t get better than this.”