Edge Case Research Raises $12M Series A Round to Make Autonomy Safer
by Michael Wagner, CEO, Edge Case Research
I am excited to announce that over the last year we’ve completed our $12M Series A round. We are pleased that Yabeo Capital, based in Munich, led the round and will now take a seat on our board of directors. We thank our existing investors Ansys, Lockheed Martin Ventures, Blue Tree Allied Angels, and Liberty Mutual Strategic Ventures for their generous ongoing support. And finally, we are excited to welcome Reinforced Ventures, Monozukuri Ventures, and 412 Ventures to the Edge Case team!
The investment also facilitated the rapid expansion of our team in Munich, Germany through the addition of the Yabeo portfolio company Terraloupe and its outstanding people and technology. I want to thank our amazing team’s efforts in creating a single, unified Edge Case Research through the challenges presented by the pandemic.
Our new colleagues in Munich join our amazing team of product developers, software developers, and system safety experts to support our growing customer base in the U.S., Europe, and Asia. While physically separated, it has been incredibly gratifying to see our team come together over the course of the last year and a half.
With investment, we’ve built the nLoop platform and started getting it into the hands of customers in the automotive and defense markets. Our vision for nLoop is ambitious: to provide live safety cases, backed by evidence, to help our customers to define, measure, and communicate the safety of their autonomous system. nLoop enables our customers to communicate risk and safety metrics to stakeholders inside and outside their organization while maintaining the confidentiality and integrity of their intellectual property.
Of course, in order to fulfill this vision our team has grown and will continue to grow substantially. Edge Case is now about 80 people globally, including seasoned leaders experienced in developing complex software products, and we intend to grow even more. To facilitate that growth, Edge Case is moving into its new headquarters at 2555 Smallman Street in Pittsburgh’s Strip District, a hub for autonomous vehicle development.
We’ve come a long way from the days when we were a handful of Carnegie Mellon engineers working on projects in a small office near campus. Our Safety Solutions team consists of world-class experts in safety engineering from the U.S. Government, the automotive industry, and academia. In addition to working closely with our customers, and continuing to support standards such as UL 4600, the Safety Solutions team makes their expertise available through safety case frameworks available on the nLoop platform.
As I mentioned, the Edge Case team is continually changing and growing. One important change is that Edge Case’s co-founder, Phil Koopman, has parted ways with us to pursue other opportunities. We wish him the best!
As recent announcements from our customers indicate, autonomous mobility is progressing rapidly. Autonomy will affect how goods are shipped on highways and how we are driven through our neighborhoods. We’re proud to contribute to the industry to make autonomy safer.