Transforming Automotive Safety: Why We're Backing Foretellix's Verification & Validation Platform

The automotive industry is going through a massive transformation, as autonomous driving and software-defined vehicles continue to gain significant momentum. This is creating exciting opportunities for startups with technologies that help ensure these new technologies are safe and reliable at scale. Foretellix, a startup based in Israel, is leading the way in this field.

At Woven Capital, we’re proud to participate in Foretellix’s new $43 million Series C round. Foretellix is a strong partner for us because its mission is rooted in safety, which is core to our mission. Partnering with Foretellix will advance Woven by Toyota’s mission to deliver safe, intelligent and human-centered mobility solutions.

Ensuring the safety of autonomous vehicles

In the new automotive world of software and AI-based systems, traditional safety processes need to evolve to handle the nearly unlimited number of complex scenarios an autonomous vehicle may encounter. Foretellix has developed a truly differentiated safety-driven verification and validation platform, and their expertise will help build upon Toyota’s rich history of safety-first practices.

Specifically, Foretellix has developed intelligent automation and analytic tools that can generate, orchestrate, monitor and analyze the hundreds of millions of driving tests required to ensure the safety of autonomous vehicles. Foretellix’s flagship product, the Foretify platform, can generate these scenarios, identify potential risks, and enable engineers to fine-tune their ADAS and automated driving systems to prevent accidents.

One of the key advantages of the Foretellix platform is its ability to create all these complex driving scenarios automatically based on a library of abstract scenarios that was developed by Foretellix. This is vital because autonomous vehicles must be able to navigate a vast range of situations, with unpredictable actors in numerous locations and conditions from busy city streets to rural highways and blue sky to blizzard conditions. By testing autonomous systems under all these scenarios, Foretify can help OEMs ensure they’ll be safe in any situation. Ultimately, the platform provides the confidence necessary for the widespread deployment of ADAS and automated driving systems, and unlocks the full potential of the autonomous driving revolution.

Bringing proven experience to the verification space

A key driver behind our excitement for the company is their top-notch team. Co-founders Ziv Binyamini and Yoav Hollander are veterans of the verification space in the semiconductor industry, and are now applying this expertise to the automotive space. They have worked together for an impressive 18 years and have a solid track record across both the institutional and startup worlds.

Prior to Foretellix, they ran the large simulation and verification business at Cadence Design Systems. They also worked together at Versity, one of the first verification companies in the world. It was founded by Yoav and ultimately sold to Cadence. As a strategic partner, we look forward to supporting Foretellix in its quest to successfully do for the automotive industry what they previously did for the semiconductor industry.

One of the traits we look for and most value in a founder is adaptability. Ziv has demonstrated both his adaptability and his eagerness to collaborate with Woven by Toyota throughout our entire investment process.

Beyond automotive safety

According to Vantage Market Research, the global automotive testing, inspection and certification market is expected to reach $21 billion by 2028, largely driven by the increasing demand for advanced safety and performance testing solutions. Foretellix is well-positioned to capitalize on this growing market opportunity with its advanced verification platform.

Beyond the autonomous vehicle market, Foretellix is targeting other industries that rely on complex autonomous systems, such as trucking, mining, aerospace and defense, seeking to further ensure the safety and reliability of critical components in those fields. Foretellix is providing a verification platform that is changing the way many industries approach safety testing, and we at Woven Capital are excited to be part of the journey.