CerebrumX Announces Strategic Investment from BlackBerry IVY Innovation Fund

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Apr 06, 2023, 08:00 ET

CerebrumX will use new funding to scale its connected vehicle data-based product offering and help automakers drive lucrative new revenue streams

NOVI, Mich., April 6, 2023 /PRNewswire/ -- CerebrumX Labs Inc. (CerebrumX), a leading AI-driven automotive data services & product provider, today announced a strategic investment from BlackBerry that will help it ramp up the delivery of new data-driven, in-vehicle products and services that make it easier for automakers to create turnkey user-centric applications and enterprise solutions.

CerebrumX has a highly secure, AI-based Augmented Deep Learning Platform (ADLP) that's been deployed on more than 45 million trips and captured more than 100 million miles of data. CerebrumX works with automakers enabling them to generate innovative use-cases across every aspect of their business by tapping into key data-driven insights on vehicle and driver performance.

"CerebrumX has an ambitious vision, together with our partners, customers, and stakeholders, to deliver intelligent real-time data insights at scale, and we are excited to have BlackBerry onboard as an investor, who share the same long-term commitment to the global connected vehicle data industry," said Sandip Ranjhan, Chief Executive Officer at CerebrumX.

With the new funding and by integrating with BlackBerry IVY^®, BlackBerry's award-winning cloud-connected, automotive AI platform, CerebrumX will be able to develop embedded in-car synthetic sensors to collect valuable consented data and perform critical data processing at the edge, delivering real-time insights that can help inform in-demand applications such as comprehensive driver and vehicle health scores. As part of the investment, Vito Giallorenzo, General Manager of IVY and Head of Corporate Development at BlackBerry will join CerebrumX's advisory board.

The actionable intelligence generated by CerebrumX offers benefits for a vast range of companies across the automotive ecosystem – fleet companies for monitoring operations in real-time while reducing the Total Cost of Ownership (TCO), insurance providers to offer personalized insurance plans based on active driver behavior analysis and smart mobility solution providers to offer optimized services based on individual vehicle data.

"CerebrumX has built a powerful and impressive data management platform, capable of sifting through millions of connected vehicles to enable smarter, data-driven business decisions. By integrating with BlackBerry IVY, we'll be able to take that offering to the next level and enable CerebrumX to perform intensive amounts of data processing at the vehicle edge to deliver real-time insights to automakers and other ecosystem providers, something which would otherwise involve cumbersome and costly cloud computing resources. We look forward to working with their team and expand our catalogue of BlackBerry IVY-enabled solutions with this exciting new offering," said Vito Giallorenzo, General Manager of IVY and Head of Corporate Development at BlackBerry.

CerebrumX is the fourth company that BlackBerry has invested in via its BlackBerry IVY^™ Innovation Fund which launched to help automotive ecosystem providers turbocharge their innovation and bring new products and applications to market using BlackBerry IVY, the company's award-winning cloud-connected, automotive AI platform.

About CerebrumX Labs Inc.

CerebrumX (www.cerebrumx.ai) uses artificial intelligence to deliver trusted data and high-quality insights to businesses to drive innovation, optimize operations and drive key decisions using smart data. Our industry's first ubiquitous data management platform is utilized across the Edge and Core Network to our partners including (OEMs, Media, Insurers, Fleet Companies and Smart Cities/Municipalities). CerebrumX's Augmented Deep Learning Platform (ADLP) securely collects and consolidates scattered data from our partners and other third-party apps and devices to enable the activation of connected vehicle data that has previously been under -utilized to any significant level due to the absence of an integrated Automotive Ecosystem. CerebrumX is headquartered in Novi, Michigan with offices across NA, EMEA and APAC.

Connect with us for more information, https://cerebrumx.ai

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SOURCE Cerebrumx Labs Inc.