CerebrumX Labs Inc. in Novi, an AI-driven automotive data services and product provider, has announced a strategic investment from the BlackBerry IVY Innovation Fund. The amount of the investment was not disclosed.
The capital infusion will help the CerebrumX ramp up the delivery of new data-driven, in-vehicle products and services, that make it easier for automakers to create turnkey user-centric applications and enterprise solutions.
CerebrumX states it has a secure, AI-based Augmented Deep Learning Platform (ADLP) that’s been deployed on more than 45 million trips and captured more than 100 million miles of data.
The company works with automakers enabling them to generate innovative use-cases across every aspect of their business by tapping into key data-driven insights on vehicle and driver performance.
“CerebrumX has an ambitious vision, together with our partners, customers, and stakeholders, to deliver intelligent real-time data insights at scale, and we are excited to have BlackBerry onboard as an investor, who share the same long-term commitment to the global connected vehicle data industry,” says Sandip Ranjhan, CEO at CerebrumX.
With the new funding and by integrating with BlackBerry IVY, BlackBerry’s cloud-connected, automotive AI platform, CerebrumX will be able to develop embedded in-car synthetic sensors to collect valuable consented data and perform critical data processing, delivering real-time insights that can help inform in-demand applications such as comprehensive driver and vehicle health scores.
As part of the investment, Vito Giallorenzo, general manager of IVY and head of corporate development at BlackBerry, will join CerebrumX’s advisory board.
The actionable intelligence generated by CerebrumX is meant to offer benefits for a range of companies across the automotive ecosystem — fleet companies for monitoring operations in real-time while reducing the Total Cost of Ownership (TCO), insurance providers to offer personalized insurance plans based on active driver behavior analysis, and smart mobility solution providers to offer optimized services based on individual vehicle data.
“CerebrumX has built a powerful and impressive data management platform, capable of sifting through millions of connected vehicles to enable smarter, data-driven business decisions,” says Giallorenzo.
CerebrumX is the fourth company that BlackBerry has invested in via its BlackBerry IVY Innovation Fund, which was launched to help automotive ecosystem providers turbocharge their innovation and bring new products and applications to market using BlackBerry IVY, the company’s cloud-connected, automotive AI platform.
