FiveAI is developing an AI-based autonomous driving platform and plans to operate a fleet of self-driving taxis using that platform. The company is a partner in the U.K. StreetWise project and is working with Transport for London, the Transport Research Laboratory, Oxford University, insurer Direct Line and others on a London pilot. FiveAI has not yet launched any commercial products and is currently in a multi‑phase plan: Phase One focuses on building and demonstrating the driving platform and pilots, Phase Two on dispatch, UX and a first commercial launch, and Phase Three on large-scale fleet deployment. The company recently completed a Series A and received a government grant to fund development and pilots, and CEO Stan Boland — a founder with several prior exits — says he has invested personal funds as well. FiveAI expects StreetWise test runs at the end of 2019 and anticipates regulatory improvements by 2021; large-scale expansion would require raising hundreds of millions or billions. FiveAI develops AI-driven software that uses computer vision and machine learning, paired with onboard sensors and cameras, to reduce reliance on detailed prior 3D mapping for autonomous vehicles. The company aims to enable self-driving cars to understand and navigate their immediate environment with simpler maps. FiveAI raised $2.7 million to continue building its software stack and to grow its team of AI/machine learning and other software engineers. Management says the funds are intended to carry the company to simulator and supervised road testing before seeking a larger round. After those milestones, FiveAI plans to begin working with vehicle OEMs to develop production-ready software. CEO Stan Boland, who previously co-founded Element 14 and Icera, emphasizes the U.K.’s AI talent and potential regulatory advantages for developing self-driving technology.

Total raised

$38M

Funding rounds

3

Latest round

Grant

Latest activity

Sep 2017