Collision Avoidance System for Motorcycles
Ride Vision has created a collision avoidance system for motorcycles.
Its system uses a combination of machine vision and artificial intelligence to provide 360-degree threat analysis for riders.
The company has already developed a prototype of its system, and has been awarded multiple provisional patents. Now it’s seeking additional capital to market its system to motorcycle manufacturers, and begin sales in 2020.
(Please note: This startup is raising funds from “accredited” investors only. An accredited investor is someone with a
net worth of at least $1 million, or annual income of at least $200,000, or $300,000 with their spouse.)
By 2025, the market for Advanced Driver Assistance Systems (ADAS) is projected to surpass $67 billion. And several deals have been made in this industry with big price tags — for example:
• In 2017, Intel acquired Mobileye, a company developing collision avoidance systems for vehicles, for $15 billion.
• General Motors acquired Cruise Automation, a startup focused on autonomous car technology, for $1 billion in 2016.
• And the same year, Uber acquired Otto, a company focused on fitting semi-trucks with radars, cameras, and laser sensors, for $220 million.
But while ADAS like Mobileye are available for cars, no solution exists for motorcycles. Factors like weight shifting and movement within a lane make a collision system for motorcycles difficult to create and implement.
Two-wheel riders are 6 times more likely to be injured in an accident vs. a car occupant, and 28 times more likely to die in one.
This is a huge, untapped market. Roughly 8 million Americans own motorcycles. And Grand View Research projects the U.S. motorcycle market will reach $10 billion by 2025.
Ride Vision is targeting this market by creating the first and only ADAS for two-wheeled riders.
Its system relies on what’s known as Collision Aversion Technology, or “CAT.”
CAT is a fusion of AI and computer vision designed to seamlessly integrate with motorcycles using standard cameras as visual sensors. CAT recognizes and analyzes relevant threats on the road without the need for expensive hardware and without disrupting the rider’s focus.
The system offers features such as:
• Warnings if vehicles aren’t keeping a safe distance.
• Forward and rear collision warning.
• Blind spot warning.
Warnings are delivered using light cues on a rider’s rear view mirrors and by sending an audio cue to the rider’s helmet. These alerts have five degrees of severity, and have been designed to get the rider’s attention without scaring them or distracting them from the road.
In addition to continuous monitoring, Ride Vision’s system serves as a dash camera, capturing front and rear footage for evidence in the event of a crash.
Ride Vision is developing two versions of its system: a full product that provides 360-degree monitoring, and a more affordable option that offers forward and side protection only, where 93% of motorcycle collisions occur.
With its two systems, the company will sell to primary market customers — this includes equipment manufacturers such as BMW, Honda, Ducati, and Suzuki — and after-market customers. These will consist of insurance companies like Geico and State Farm.
Ride Vision will charge primary customers $342 for its full product and $134 for forward/side protection, and will charge after-market customers $241 for its full product and $124 for forward/side protection.
In addition, the company will charge an annual subscription fee for use of the service and software updates. This will cost $50 for forward/side protection and $120 for full protection.
Ride Vision has completed a prototype of its system, and been awarded provisional patents covering the overall system design and warning alerts. It also has one covering the algorithms that enable monitoring a motorcycle, even with its unique maneuverability on the road. The company has submitted several additional patents.
Ride Vision has Memorandums of Understanding with motorcycle manufacturers including Suzuki, Ducati, and TVS Motor, the latter of which produces roughly 4 million motorcycles a year. It also has MoUs with insurance companies Ergo and Sara.
The company has received an investment from YL Ventures, an American-Israeli VC firm focused on startups in cybersecurity and autonomous vehicle markets.
After initially targeting motorcycle riders, the company will look to offer its technology to e-bikes, e-scooters, and vespas, creating an additional $7.5 billion opportunity.
Uri has 15 years of experience in areas including artificial intelligence, image analysis, and intelligence-research systems.
He was a senior R&D team leader for TSG, a global cyber security company that worked with Homeland Security. In addition, he served in the same role with BOLT Solutions, a software-as-a-service company serving the casualty insurance industry.
Uri was previously CEO of PicScout, a company providing image intelligence to photography brands that was acquired by Getty.
He earned a Bachelor’s degree from the Israeli Institute of Technology.
Lior has 16 years of experience with image analysis, artificial intelligence, data fusion, and aerial command and control systems.
He worked with Uri at PicScout, serving as the company’s Vice President of R&D, as well as with TSG. He previously worked as a mobile development manager with AT&T.
Lior began his career as a software engineer in the satellite division of Israel Aircraft Industries. He earned a Bachelor’s and Master’s degree in Information Systems from Ben Gurion University.
An American-Israeli VC firm focused on startups in the cybersecurity and autonomous vehicles markets.