Self-driving tech startup DeepMap looks to enable next-gen autonomous vehicles with mapping technologies.
Founded by Alphabet Inc. mapping veterans, the startup is constructing systems that help self-driving cars navigate and is looking to license its software to automakers and tech companies. The team at DeepMap also has mapping technology vets from Apple and Baidu.
DeepMap recently raised $25 million in a Series A venture funding round led by Accel, along with participation from seed investors Andreessen Horowitz and GSR Ventures. To date, the mapping technology company has raised a total of $32 million.
“The societal implications of integrating self-driving vehicles into the transportation ecosystem are considerable,” said James Wu, DeepMap co-founder and CEO in the funding press release, “from more independence for the elderly, the young and the handicapped, to saving many lives and making commuting a more meaningful use of time.”
Another Group of Google Veterans Starts a Self-Driving Technology Company
A mile away from where Google builds the maps used by people around the world, a 25-person startup is trying to do something similar for robots.
DeepMap Inc., which was founded by mapping veterans of Alphabet Inc., is building systems enabling self-driving cars to steer through complex cityscapes. DeepMap plans to license its map-building software to automakers and technology companies looking to teach cars how to drive.
The company recently raised a $25 million funding round led by Accel, adding to the $7 million it raised last year. In the chase to secure the investment, the firm penned an 80-page white paper on DeepMap’s technology.
DeepMap, a new mapping startup for the fledgling autonomous vehicle industry, has raised $25 million in a series A round led by Accel, with participation from existing seed-stage investors Andreessen Horowitz and GSR Ventures, which had previously invested around $7 million in the company