Canadian startup raises $25 million to develop software to improve vehicle control capabilities

According to foreign media reports, on May 6 local time, Canadian startup Potential Motors announced that it had completed a new round of financing, raising a total of US$2.5 million (approximately RMB 17.683 million), led by Build Ventures , with participation from Brightspark Ventures and New Brunswick Innovation Foundation . Potential Motors is a software company that uses artificial intelligence technology to improve vehicle safety and performance. The company plans to use the funds raised to increase the number of employees. Build Ventures is a seed round investor that just completed its second round of financing last year. The company's general partner Patrick Keefe has also joined the board of directors of Potential Motors .

(Image source: Potential Motors )

Potential Motors was founded two years ago (2018) by CEO Sam Poirier, CTO Isaac Barkhouse and COO Nick Dowling, while the three were studying technology, management and entrepreneurship courses in the engineering department of the University of New Brunswick.

Potential Motors is developing a software product called RallyAI that it claims can change the driving experience. Currently, drivers are required to control the movement and stop of the vehicle through a mechanical system. The RallyAI vehicle control system developed by Potential Motors is a software platform that can monitor the power, steering and braking of each wheel, providing unprecedented vehicle control functions and making the vehicle more adaptable to changes. For example, if one wheel hits a piece of ice in winter, the other wheels will respond accordingly to keep the vehicle stable.

RallyAI runs at the same speed as processors and software, is smarter and more responsive than humans, and is constantly learning. However, the software is not intended to replace the driver, but to enhance the driver's capabilities and reaction time. By combining machine learning, independent wheel-by-wire control and turn signal concepts, and utilizing the latest advanced sensors and electronic control hardware, unprecedented vehicle control capabilities are achieved. In addition, RallyAI will always be aware of the vehicle's condition and surrounding environment, and can automatically adapt to changing conditions, such as road conditions, mechanical failures in the vehicle itself, etc.

Potential Motors currently has 12 employees, all but one of whom are working on the software. Poirier, the company’s chief executive, said it plans to hire four more employees and will immediately hire a senior software developer, though he declined to discuss when a product will be released to the market.