Autonomous vehicles maker Swaayatt Robots raises $4M at $151M valuation
The funding is part of a much larger round. Swaayatt Robots will raise the remaining capital at a valuation of about $175 million.
Swaayatt Robots, a Bhopal-based autonomous driving startup, has raised $4 million from US-based angel investors.
Sanjeev Sharma, Founder of , took to LinkedIn to announce that the funding is part of a much larger round the startup is raising. The round was closed at a valuation of $151 million.
He also mentioned that the startup will raise the remainder of the funds at a valuation of about $175 million.
“Going forward, with this new fundraise of $4 million, which is part of a larger fund we are raising with global investors, we will actively be inventing new AI capabilities to solve the problem of autonomous general navigation,” he wrote on LinkedIn.
He had earlier mentioned that the startup will scale its R&D in all areas of autonomous driving, with a specific focus on unsupervised and inverse reinforcement learning to demonstrate its sustainably scalable Level-5 autonomous driving technology.
Level 5 vehicles do not require any human intervention and do not need a steering wheel or passengers facing the road.
Sharma mentioned in the post that to guarantee safe and cost-effective autonomous driving technology, the startup must solve the hardest AI problem.
“Autonomous agents [are] learning to negotiate the most complex, stochastic, and adversarial traffic dynamics on the roads ie to control the behaviour of a nonlinear dynamical system operating in a continuous domain, such as autonomous vehicles.”
He explained that the startup has developed sophisticated AI/mathematical models and algorithmic frameworks to solve problems of bidirectional traffic negotiation (relative speeds at the point of intersection 40 kmph) on single-lane roads. It also negotiates multi-agents in tight stochastic dynamic environments, toll-plaza, and off-roads navigation at high speeds, along with negotiating bidirectional flow of traffic, unmanaged traffic-intersection negotiation, LiDAR-less perception (day/night), etc.
Swaayaat Robots had previously raised around $3 million in 2021.
Speaking about the startup's technology, Sharma earlier told YourStory, “We have better technology compared to our competitors in Europe, North America, and China...We have developed algorithmic frameworks that are more capable in terms of dealing with environmental and traffic uncertainties. At the same time, our technology is much less energy consuming, derived from the computational efficiency of our algorithmic frameworks.”
Edited by Kanishk Singh