Potential, the Canadian automotive tech company, has recently secured an additional $2 million in funding to accelerate the commercialization of its AI technology. This new funding round adds to the $8.5 million raised since May 2020, with investors including Brightspark Ventures, Build Ventures, NBIF, and Farpointe.
The company, known for its AI-powered off-road vehicles with self-driving capabilities, aims to revolutionize the automotive industry. Their core technology, Terrain Intelligence, uses sensors to analyze terrain features, enabling proactive control and enhancing safety for drivers.
Potential has already partnered with a major recreational off-road vehicle manufacturer and delivered their first innovation project for a global automotive brand. They are in discussions with several leading automotive companies for future collaborations and are currently running a pilot project in the automotive sector.
CEO Sam Poirier is optimistic about the company’s future, emphasizing the potential for their technology to be integrated into all types of vehicles. Investors like Brightspark Ventures and NBIF have expressed their confidence in the company’s leadership and technology, highlighting the pioneering work being done by Potential.
With a focus on AI-powered perception solutions in various sectors, including automotive, powersports, mining, and defense, Potential is poised to make a significant impact on the industry. The latest funding round will fuel the company’s efforts to bring their cutting-edge technology to market, paving the way for a safer and more advanced automotive future.
