April 11, 2019
Capital raise / fund raise
GCA advises Affectiva on its Series B Preferred Financing
GCA advised Affectiva, the global leader in Emotion AI and the pioneer of Human Perception AI, on a $26 million Series B financing, led by Aptiv PLC (NYSE: APTV) and including Trend Forward Capital, Motley Fool Ventures and CAC. The funding will enable Affectiva to broaden the scope and accelerate the development of its perceptive technology in the automotive industry, as well as other areas such as conversational interfaces, social robotics and market research.
Affectiva created and defined the category of Emotion AI, which now encompasses a rich ecosystem of players and is set to become a multibillion dollar industry. Building on its proven expertise in deep learning, computer vision and speech science, combined with its massive amounts of real-world data, Affectiva’s AI is pioneering the next frontier of artificial intelligence: Human Perception AI, software that can understand all things human. Human Perception AI will detect nuanced emotions as well as complex cognitive states, activities, interactions and objects people use.
Affectiva will use its latest round of funding primarily to fuel deployment of its Human Perception AI in production vehicles. Already, leading OEMs, Tier 1 suppliers, ridesharing providers, fleet management companies and developers of autonomous vehicles are working with Affectiva’s Automotive AI solution to understand drivers’ and passengers’ states and moods.
“Since day one, we’ve been on a mission to humanize technology,” said Dr. Rana el Kaliouby, co-founder and CEO of Affectiva. “We’re seeing significant demand from the automotive industry in particular, as OEMs and Tier 1 suppliers concentrate on creating safer, more comfortable experiences for drivers and passengers. As our technology has evolved to detect more than just emotions, the automotive industry will be able to build intelligent vehicles that can better adapt and relate to the needs of people inside of them.”
GCA acted as sole placement agent to Affectiva in connection with this transaction.