Banking, Finance, Insurance and Securities (BFIS) Software Services

Switzerland Embotech Convinces Tender

πŸ“„ Tender ID: 442233719 πŸ“… Published: 21 Feb 2019

πŸ“‹ Tender Overview

Embotech has taken in a round of funding 2.5 million francs. The start-up from the Greater Zurich Area develops motion planning software. Except in autonomous cars these should also be used in space travel.The start-up company Embotech secured 2.5 million francs in a round of financing according to a press release . Existing investors such as the Zrcher Kantonalbank the Zurich industrial group Conzzeta angel investors as well as new investors were involved.Embotech develops motion planning software that controls the steering braking accelerating or parking of self-driving cars. Embotech solutions are not based on artificial intelligence or machine learning. Instead the company relies on a deterministic mathematical approach. Based on the physical characteristics of the vehicle for example mobile orbits are calculated in real time. Because this happens without programming or training the vehicle the car can fully autonomously respond to the environment.The software from Embotech can be integrated into the vehicle as well as into the infrastructure. One idea is to have vehicles drive automatically from the assembly shop in the factory to the logistics area. The company has already worked with companies such as Renault and ABB and is supported by Volvos support program. However the solution from Embotech is also interesting for space travel the company is working on a project that develops technology for automatic take-offs and landings at the European Space Agency ESA .With the new money Embotech intends to drive growth in the automotive aerospace and industrial solutions markets. By 2018 the company had already doubled its headcount to 21 and generated sales in the single-digit millions. Embotech was hived off in 2013 from the Automatic Control Laboratory of the Swiss Federal Institute of Technology Zurich ETH . Its headquarters are in Technopark Zurich.

πŸ” Key Information

πŸ“„
Tender Reference No.
442233719
πŸ“…
Publication Date
21 Feb 2019
🌐
Sector
Banking, Finance, Insurance and Securities (BFIS)
πŸ“
Notice Type
News
πŸ“
Location
Switzerland

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🧭 Quick Facts

Authority N/A
Country Switzerland
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Tender Type Procurement News
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