CorrActions, an Israeli AI-based driver safety startup, has successfully closed its Series A round, raising $7.25 million. The funding round was led by Volvo Cars Tech Fund, which was joined by BlackBerry, alongside prominent venture capital firms Next Gear Ventures, Mobilitech Capital, Regah Ventures, OurCrowd, NextLeap Ventures, and Stone Ventures. The investment will be used to accelerate the adoption of CorrActions’ solution in production vehicles. This is already in process with multiple automakers.
CorrActions has developed AI-based software that detects abnormalities in the cognitive state of drivers and passengers. The software analyzes micro muscle movements that reflect brain activity. It uses existing human-motion sensors in vehicles, such as the steering wheel, in-cabin radars, seats, and other devices. These movements can indicate various cognitive states, including driver intoxication, fatigue and distraction.
Automakers can benefit from CorrActions’ privacy-focused approach to driver monitoring. Consumers can implement the software in their vehicles through Over-the-Air (OTA) software updates, including using the BlackBerry IVY™ vehicle platform. It does not require or capture any Personal Identifiable Information (PII) to assess the driver’s cognitive state. This also enables automakers to have privacy-focused driver monitoring capabilities without the need for additional sensors or cameras. These capabilities can reduce cost and supply chain complexity, while simplifying integration efforts to support faster deployment.”
CorrActions is actively working with multiple automakers to integrate its solution into their vehicles. This aims to improve driver and passenger safety and wellbeing. The solution allows fleets and telematics service providers to reduce insurance costs, improve delivery times, and increase driver safety.
Dr. Eldad Hochman, a neuropsychologist and scientist, and Zvi Ginosar, an experienced business executive, founded CorrActions in 2019. Moreover, the company’s CEO, Ilan Reingold, is a former Chief Business Officer at Sony and General Manager at Broadcom.
“Our successful Series A funding round is a testament to the industry’s recognition. It also highlights the potential of CorrActions’ AI-based brain activity monitoring technology,” stated Reingold.
“Our strategic investors, including Volvo Cars and BlackBerry, support us in driving the adoption of our solution in production vehicles. By detecting abnormalities in drivers’ and passengers’ cognitive states, we aim to significantly enhance road safety and revolutionize the driving experience.”
Anooj Shah, Senior Director, Investments & Strategy, BlackBerry, said: “BlackBerry is excited to partner with CorrActions and support their mission of safer roads with their privacy-first, driver safety technology. CorrActions has already pre-integrated its machine learning algorithms into BlackBerry IVY™, simplifying in-vehicle deployment for automakers.”
Tali Rosenwaks, Partner at Next Gear Ventures, noted: “We’ve been following CorrActions closely for a long period and promoting their engagements with customers as part of our DriveTLV FastLane commercialization program. Moreover, we are excited to invest in CorrActions to help make vehicles safer with their unique and promising offering.”
Orlie Gruper, General Partner, Mobilitech Capital, said: “We are thrilled to partner with CorrActions, a trailblazer in road safety solutions. CorrActions stands out as the sole provider of a software-only solution addressing a critical safety concern — driving under the influence of alcohol and fatigue. Furthermore, our collaboration with the CorrActions team is a testament to our commitment to making roads safer and shaping the future of in vehicle experience.”
