PALO ALTO, Calif., May 25, 2021 /PRNewswire/ -- Apex.AI, a company developing breakthrough safety-certified software for the automotive industry, announced today that Paul Balciunas has been named Chief Financial Officer, effective immediately. In his role, Balciunas will lead fundraising efforts that will enable Apex.AI to expand its product offerings to new areas in addition to mobility, including Internet of Things (IoT) and industrial automation, over the next few years. The company plans to leverage its Apex.OS meta-operating system for automotive and apply it to industrial vehicles, smart agriculture, and devices in industrial automation and IoT software.
"Paul has a proven track record of successfully raising capital to fund growth for technology companies which will help us capitalize on our goals of becoming the leading, safety-certified software platform for mobility and new industries," said Jan Becker, Co-founder and CEO, Apex.AI. "He will be invaluable in Apex.AI's capital strategy in order to address the numerous market opportunities we see for our products. We want to bring Apex.OS to anything that moves and has intelligence in order to help build a safer, more reliable and connected future."
Balciunas has nearly two decades of experience in finance and investment banking in the automotive industry. While at Deutsche Bank, he acted as a lead underwriter of the initial public offering (IPO) for Tesla in 2010, and has since focused on auto tech and new mobility players.
"I wanted my next move to be with another extraordinary team with breakthrough technology and Apex.AI is revolutionizing the way autonomous systems are being built," said Balciunas. "Apex.AI is making it easier to incorporate safety in cutting edge technologies, and as we head towards an autonomous future, the possibilities are endless."
During his tenure at Deutsche Bank, Balciunas was involved in a number of landmark automotive transactions including the IPO of General Motors, which at the time was the largest IPO in U.S. history, and the sale of the UAW Retiree Medical Benefits Trust's 41.5% stake in Chrysler Group to Fiat North America.
Most recently, Balciunas served as Chief Financial Officer for the electric vehicle company Canoo. During his time at Canoo, he raised over $1 billion in equity financing and supported the company's transition from a private to publicly traded company listed on Nasdaq.
"I've had the pleasure of working with Paul at Canoo and know first hand that he brings a wealth of experience and knowledge to the Apex.AI team," said Dr. Karl-Thomas Neumann, Board of Directors, Apex.AI. "His impressive background comes with strong connections to the investor community, corporate strategics and banking partners. He will be critical in Apex.AI's efforts to raise growth capital in the years to come."
Apex.AI is a Palo Alto, Berlin, and Munich-based company developing breakthrough safe, certified, developer-friendly, and scalable software for mobility systems. The company's flagship product is Apex.OS, a robust and reliable meta-operating system that enables faster and easier software development for vehicles and safer autonomous driving solutions. Their software development kit targets two main customer groups, the OEM developers who need to implement complex AI software integrated with the entire vehicle, and the autonomous driving developers who can now implement safety-critical applications with ease and reliability.