Globes reports that Swedish multinational vehicle manufacturer Volvo's cars tech fund has announced an investment in Israeli driver monitoring company CorrActions, which monitors brain activity using unconscious, uncontrollable, muscular sub-movements. By tracking these movements through its AI software from sources like steering wheels and smartphones, Corractions can detect a wide range of cognitive states including fatigue, inattention, anxiety, and intoxication from alcohol and drugs.

Volvo's strategic investment in CorrActions is part of a Series A financing round expected to reach $6 million. Other investors in the round include OurCrowd and Next Gear Ventures. CorrActions, which graduated from the OurCrowd Labs/02 Jerusalem incubator raised $2.7 million in a seed financing round in 2021. The company was founded in 2019 by chairman Zvi Ginosar and CSO Eldad Hochman.

"With the Tech Fund, we aim to be a strategic partner of choice for exciting start-ups that can help boost our position as a tech leader in our industry," said Alexander Petrofski, head of the Volvo Cars Tech Fund. "CorrActions fits the bill perfectly and focuses on a mission that is close to our heart: making cars and the people in and around them safer."

Volvo said that the CorrActions technology has the potential to be a highly relevant complement to its future safety systems.

Source - Globes/Twitter - Image - Reuters