ComfortDelGro, on Jan 11, announced that it is investing US$4 million ($5.4 million) in Ottopia to boost its autonomous vehicle (AV) capabilities.
Ottopia is an Israeli software company that develops teleoperation software for Avs.
The investment, which will be made through CDG’s US$100 million venture capital fund, is the largest in Ottopia’s Series A funding round.
According to CDG, the investment is part of the group’s strategy to grow its business especially in the core land transport areas of smart urban mobility, fleet electrification, automotive engineering technologies. This includes adjacent disciplines such as clean technology, smart logistics, artificial intelligence, cybersecurity and robotics.
Ottopia’s teleoperation technology is said to be unique in that it has the ability to remotely assist, guide and safely control fleets of autonomous vehicles. Its software, which has been tested and deployed in a variety of environments, can be integrated into CDG’s future AV Operations Centre. This is said to be an essential tool that would enable the adoption of AV technology in smart urban mobility.
"This investment in Ottopia is an important cornerstone of our future-proofing plans. Having teleoperation capabilities which will enable us to intervene and operate an AV remotely whenever needed, is critical in our future operational plans,” says Cheng Siak Kian, CDG’s managing director and group CEO.
See also: ComfortDelGro to establish $30 mil Autonomous Vehicle Centre of Excellence
"We are thrilled to have the support of one of the world’s largest land transport companies as we continue to develop our teleoperation software platform. This funding will enable us to accelerate the development and roll-out of our teleoperation software, as well as expand the team to continue pushing the boundaries of autonomy,” says Amit Rosenzweig, Ottopia’s CEO and founder.
Shares in CDG closed flat at $1.23 on Jan 10.
