DAV Foundation, a non-profit start-up building a decentralised global network for autonomous vehicles, has completed a $24m (£18.4m) fundraising campaign.
The money will be used to develop an open source platform for self-driving vehicles, on the ground, in the air and on the water.
The DAV platform allows vehicles to interconnect with other vehicles and operators on the network, enabling them to discover, communicate and transact with each other.
The DAV Foundation wants to enable a new world of mobility-as-a-service, supporting a new passenger economy with large scale enablement and adoption of drones, autonomous vehicles, robots and the infrastructure required to operate them.
Noam Copel, founder and CEO of the DAV Foundation, said, “The automotive and transportation industries are undergoing their biggest revolution since Henry Ford’s first assembly line in 1908.”
He added: “As these trends converge, the movement of goods and people will take a completely new shape, but the barriers of centralisation remain. To overcome these obstacles the autonomous vehicle sector needs a decentralised transportation infrastructure, one that incentivises all participants – businesses, citizens, manufacturers, insurers – to use it and integrate it into their everyday activities.”