A full-stack autonomous vehicle technology company called AImotive has closed its $38 million USD Series C funding round, which was led by B Capital Group and Prime Ventures, and included participation from several other investors.

The new round of funding will be used to continue the development of AImotive’s proprietary autonomous driving technology, which mainly relies on affordable, off-the-shelf camera sensors and artificial intelligence-based vision processing.

According to AImotive, its technology is inherently scalable thanks to its “low cost modularity and flexibility,” and it is also open to the “fusion of non-vision based sensors” for extra safety in poor visibility conditions.

“As a fund with many years of investment experience in deep technologies, we are excited to be part of shaping the next chapter in automotive,” says Monish Suri, partner at Prime Ventures.

“What the AImotive team has been able to achieve to date, leveraging simulation technology, is very impressive, and we are looking forward to helping the company grow further and bring their technology into production.”

With a small amount of additional cost, AImotive’s software can be ported into various car models for use in diverse locations worldwide. Thus far, AImotive’s car fleet has been tested in Hungary, France, and California, and there are plans to expand testing to automotive hubs in Japan, China, and other states in the U.S. this year.

“The auto industry is moving rapidly toward autonomy, and AImotive’s vision-first strategy for solving perception and control is far more scalable than LiDAR-based approaches as an industry standard,” says Gavin Teo, partner at B Capital Group.

“We’re excited to support Laszlo (AImotive’s founder and CEO) and the AImotive team in building a lasting brand in the AV space.”

AImotive’s technology is designed for automotive original equipment manufacturers (OEMs), mobility service providers and other mobility players. The company is currently working with established automotive players such as Groupe PSA, SAIC, and Volvo.