Developer of AI for autonomous driving seeks investors
4 Feb '21
Cognitive Pilot, a Russian high-tech developer, is considering launching a private placement procedure later this year, Co-Founder and CEO Olga Uskova was quoted by the Russian business daily Vedomosti as saying.
According to Ms. Uskova, her company has been in talks with “a number of investors”; no specific information has been disclosed at this stage.
Following the closure of the possible deal, Cognitive Technologies—one of the company’s two co-founders; the other one is Sberbank, Russia’s largest savings bank—and the Cognitive Pilot management will reportedly retain control over the asset. Cognitive Technologies currently owns 70% of its subsidiary, with Sberbank controlling the remaining 30%.
The owners of Cognitive Pilot have posted $400m as the company’s current valuation.
Cognitive Pilot is a fast-growing developer of artificial intelligence systems for autonomous driving. The company is already known internationally and offers solutions for agriculture and the automotive sector, as well as for railroad and urban public transport.