Green Innovative Deals: Teraki’s software saves 1/3 ton of CO2 emissions per car per year
The European Union is committed to becoming the first climate-neutral bloc in the world by 2050. But to achieve this, innovative and eco-friendly SMEs with sustainable technologies are crucial to fight climate change and make a successful green transition in Europe. The EIC-funded company Teraki is a good example of a start-up that is making the world greener with only software. Discover our Green Innovative Deal of the month below.
The main challenge facing a (semi) self-driving car today is to have a good perception of the environment. And the industry has been focusing on engineering better sensors and higher-performance computer systems to become eco-friendlier. Teraki, an automotive AI start-up based in Germany, is reducing 1 ton of CO2 for every three cars with its green software. The company provides breakthrough edge data processing software to meet the exploding data demands of the $395 billion automotive electronics industry.
Teraki has developed embedded AI-edge processing software that improves energy efficiency. While warranting less degradation for the training of machine learning models than standard technology, the solution enables low powered hardware to do the job.
Three cars running autonomously for a year in high spec hardware produce about 1.3 ton of CO2. With low spec hardware they only produce 0.2 ton per year. Bringing Teraki software to the equation would, therefore, save 1 ton of CO2 for every three cars each year. This significant saving in CO2 emissions is the result of running embedded Teraki software that enables data-intensive applications to run on low powered hardware.
Last year the company raised $11 million in Series A funding led by Horizons Ventures to address the problem of exploding data demand in tightly constrained electronics components such as those embedded in automotive systems.
“These funds will also enable us to fulfil the demand from our existing automotive manufacturing and supplier customers for high volume production series orders”, explained Daniel Richart, CEO and co-founder of Teraki.
An intelligent pre-processing solution like Teraki’s can have a huge impact on the overall energy consumption of the car. In the automotive industry, an efficient technology will scale to massive results when reaching mass production, and this software can result in a significant lower carbon footprint in the world. This project has received Phase 1 grant from the European Innovation Council.