BUSINESS Elon Musk in talks with Israeli AI vision firm Cortica: report

BUSINESS

Elon Musk in talks with Israeli AI vision firm Cortica: report

Reuters

05:53, March 21, 2018

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Elon Musk, founder, CEO and lead designer at SpaceX and co-founder of Tesla, speaks at the International Space Station Research and Development Conference in Washington, US, July 19, 2017 (Reuters)

Silicon Valley billionaire Elon Musk was in Israel to discuss a collaboration between electric car company Tesla Inc and Tel Aviv-based artificial intelligence firm Cortica, the Globes financial news website said on Tuesday.

The discussions with Cortica could lead to an investment or even an acquisition, Globes said.

Cortica says its technology enables self-driving cars to identify moving parts in its environment and make informed decisions, even predicting changes likely to occur in its surroundings.

Officials at Cortica could not immediately be reached for comment.

Cortica has raised nearly $70 million since it was founded in 2007. Investors include Hong Kong-based Horizons Ventures and Russia’s Mail.ru Group, according to Start-Up National Central.

Tesla previously collaborated with Israeli company Mobileye but the companies parted ways in 2016 after a fatal crash involving a Tesla Model S using Autopilot, a semi-automated system designed to assist with driving but not replace the driver.

Intel acquired Mobileye last year for $15.3 billion.

Musk’s visit to Israel was highlighted by several websites, including Globes, after he posted a video of himself on Instagram at a bar in Jerusalem.

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