SBI backs Japan autonomous driving start-up Ascent

The investment – which also includes contributions from several angel investors – will go towards the development of AI software for autonomous driving. This includes building automobiles equipped with lidar, cameras, and sensors for demonstration experiments. Ascent is also looking to establish offices overseas as a platform to recruit top researchers and engineers.

Founded in 2016, the company focuses on deep learning technologies, software and hardware for autonomous controlled robotics systems, and cloud computing systems. Its core product is Atlas, which serves as a platform for AI training simulations that are intended to help create better-informed autonomous vehicles. Ascent believes that by collecting data from a wide range of driving scenarios created in virtual reality – as opposed to relying solely on road-based tests – learning efficiency is improved.

Ken Goto, executive officer and director at SBI Investment, said in a statement that he was impressed by the Ascent team’s capabilities and hoped the company can achieve global prominence as AI is utilized across a wider range of industries.

The JPY50 billion SBI AI & Blockchain Fund was launched earlier this year. SBI contributed JPY20 billion and further commitments were expected from regional institutional investors, including LPs in existing SBI-managed funds. It targets investments in financial services as well as other AI and blockchain-related fields, including healthcare, the internet-of-things (IoT), robotics and the sharing economy.

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• Topics
• North Asia
• Early-stage
• Technology
• Japan
• SBI Holdings
• Venture
• automobiles