Ghost Raises $100M for Breakthrough in Autonomous Driving Safety
Former National Highway Traffic Safety Administration official to serve as General Counsel
MOUNTAIN VIEW, Calif., July 1, 2021 /PRNewswire/ -- Ghost today announced the closing of a $100 million Series D financing, fueling the development of its autonomous driving system that features a revolutionary breakthrough in crash prevention. Returning investors Sutter Hill Ventures and Founders Fund participated in the round, along with a new commitment from Coatue.
Ghost was founded in 2017 with the belief that driving should not be dangerous. Despite all the technology and features included in modern cars, cars still crash – accidents and fatalities are going up, not down. Even semi-autonomous and fully autonomous vehicles struggle to recognize and avoid every potential obstacle on the road, instead relying on human intervention to handle edge cases and prevent crashes.
To solve this problem and realize the promise of safe self-driving, Ghost has invented crash prevention technology capable of detecting and handling any obstacle, regardless of speed, size, or type. Unlike existing systems, Ghost does not need to recognize an obstacle to avoid it, instead applying new uses of artificial intelligence and physics to track objects in motion and avoid incoming threats. Engineered to keep drivers safe in even the most unusual circumstances, Ghost's fully automated crash prevention never relies on last-second human intervention.
"Crash prevention is the single most important problem in driving," said Ghost CEO John Hayes. "Automotive safety innovation has historically focused on alleviating the effects of crashes. Now we finally have the technology to prevent crashes before they occur – the breakthrough needed to bring safe self-driving to our highways."
Building on its commitment to consumer vehicle safety, Ghost has appointed former NHTSA Chief Counsel and Acting Administrator Jacqueline Glassman as General Counsel. She brings more than 25 years of experience in motor vehicle and consumer safety across both the public and private sectors.
"For decades, I have been involved in helping to reduce the risk of crashes and improve road safety," said Glassman. "I am thrilled to continue that mission at Ghost by helping advance its unique approach to crash prevention, which will ultimately make safe self-driving available on a mass scale. As we bring Ghost's technology to market, we can start saving lives within years, not decades."
Ghost is currently testing in California. The company will use the new capital to continue development and introduce the product next year.
About Ghost
Ghost is developing the revolutionary technology that finally makes self-driving safe. Made possible by a breakthrough in crash prevention that can reliably handle any obstacle on the road, Ghost brings autonomous highway driving to your car.
Ghost was founded in 2017 by John Hayes and Volkmar Uhlig and is based in Mountain View, CA. Before Ghost, John founded Pure Storage, taking the company public in 2015.
Ghost has raised $165 million from investors including Mike Speiser at Sutter Hill Ventures, Keith Rabois at Founders Fund, and Vinod Khosla at Khosla Ventures.
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SOURCE Ghost
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