Tue, May 17, 2022
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Steven Cohen's Point72 invests in driver-less car software

Thursday, April 05, 2018

Komfie Manalo, Opalesque Asia:

Steven Cohen's Stamford, Connecticut-based hedge fund Point72 Asset Management is investing in a Silicon Valley startup that is developing an artificial intelligence software for driver assistance and autonomous driving

Cohen spearheaded the $15 million investment round of DeepScale, a Mountain View, California based firm which is developing an automated driving platform with "deep neural network" software that is capable of detecting pedestrians, vehicles, and other "objects of significance" by using automotive-grade and low-power chips.

Point72 director Sri Chandrasekar commented on the move, "We've been following (DeepScale co-founder and CEO) Forrest Iandola's research on efficient deep learning for a number of years. Forrest's inventions … have already been a game-changer for putting deep learning onto smartphones. When we heard that Forrest had started a company to put small DNNs into mass-produced cars, we jumped at the opportunity to get involved."

The funding round would allow DeepScale to advance the research and development of its software. Also contributing to the fundraise were Autotech Ventures, and Trucks Venture Capital.

Iandola added, "One of our core objectives is to drastically reduce the number of deaths and injuries on the road. The company's......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Long/short equity hedge fund with bear market experience has a winning quarter[more]

    B. G., Opalesque Geneva: Experience during a Russian bear market lasting five years enabled Christian Putz to identify certain investment patterns in the market which he now applies to his current investment strategy. London-based ARR Inv

  2. Schroders acquires European renewable infrastructure manager Greencoat Capital[more]

    Laxman Pai, Opalesque Asia: British multinational asset management company Schroders has completed the acquisition of a 75% shareholding in Greencoat Capital, one of Europe's largest investment managers dedicated to the high-growth renewable infrastructure market. The remaining 25% is owned by Gr

  3. Opalesque Exclusive: Global equity manager focuses on symbiotic value chains[more]

    B. G., Opalesque Geneva: A global equity manager has made a point of focusing on the phenomenon of shrinking supply chains and avoiding zero-sum business models. London-based Tollymore Investment Partners is a private partnersh

  4. Satori Capital intros energy transition fund, a long/short equity strategy[more]

    Laxman Pai, Opalesque Asia: Dallas-based alternatives manager founded on the principles of conscious capitalism, Satori Capital has launched Satori Environmental, a long/short equity strategy that primarily invests in securities impacted by the global energy sector's shift from fossil-based s

  5. The Big Picture: With the war, E, S, and G have collectively moved back to the fore[more]

    B. G., Opalesque Geneva: In this interview, Dr. Patrick Welton, founder and CIO of Welton Investment Partners, offers his observations on the major macro themes expected to affect the comm