The automotive industry is undergoing a great transformation. Tesla, helmed by CEO Elon Musk, is very well-known for its breakthrough electric car technology. However, the public is unaware of other innovators who are developing new technologies that are also contributing to this great change. Phiar Technologies, the developer of augmented reality navigation, is one of those innovators.
Phiar touts that its technology will “enable every vehicle to have human-like perception capabilities”. Behind this visionary boast is a completed $12 million Series A funding round and the hiring of a new CEO, Gene Karshenboym, formerly Google’s Global Head of Android Automotive Platforms, who brings additional leaderships and experience to this four year old startup.
With the hiring of Karshenboym founder Chen-Ping Yu will become Chairman of the Board and CTO, overseeing spacial-AI technology and product development. Karshenboym will lead the company into the future during a critical period of developing and launching Phiar’s new technology. His 10 plus years of experience in developing partnerships and technology in the Android and automotive industry will contribute to Phiar’s future. He has served on Phiar’s board of directors since 2020.
“It is truly impressive the success and growth that Chen-Ping and the Phiar team have already achieved by developing intelligent AR navigation solutions with their lightweight spatial-AI technologies, that will bring drivers and passengers a driving experience like never before,” said Karshenboym.
This AR navigation startup is achieving their innovative breakthroughs through the use of modern automotive chipsets from Qualcomm Snapdragon. The company also has in place key collaborations with major automotive OEMs such as Nissan; global tier-1 suppliers including Panasonic Automotive and Bosch, leading maps and navigation vendors such as TomTom.
Phiar’s technology will greatly enhance the driver experience by enabling vehicles with a range of new capabilities that include better understanding the environment in real-time for intelligent navigation, smart parking, HD mapping, vision-based live road detections and more.
The company’s patented AI-powered AR navigation solutions have the strong backing of venture capital and other innovators. Their recent round was led by State Farm Ventures with the participation of Cambridge Mobile Telematics, the world’s largest smartphone telematics provider, and Telenav, a connected car solutions provider.
Other prior investors include: Norwest Venture Partners, The Venture Reality Fund, GFR Fund, Anorak Ventures, Mayfield Fund, Zeno Ventures, Cross Culture Ventures, Y Combinator, Innolinks Ventures and Half Court Ventures.
“Phiar is well-positioned to build upon its success in the automotive industry by providing superior, real-time road perception AI. Visual applications are the future of mobility experience and safety, and we believe Phiar’s spatial AI-based solutions are uniquely positioned to help drivers safely navigate, interact, and experience the world,” says Michael Remmes, Vice President, State Farm Ventures®.
With its new CEO coming onboard and the Series A completed, Phiar took another step forward with its recently established partnership with Panasonic Automotive to integrate Phiar’s AI-based navigation into the company’s automotive solutions—adding to driver safety and navigation support.
Yu’s vision for his AR navigation startup to enhance automobile driver experience is significantly closer to being realized due to the milestones announced this past week. He now has in place the critical “go-to-market resources” necessary for success.
