At Frontier, and every early-stage venture capital firm like it, it’s our job to look around corners to theorize about what the world could look like in the future. Our partners look through lenses that are filtered by certain thematic beliefs that drive our fund investing (click here!), but also inspired by a world of creative entrepreneurs who are often already ahead of us. As we look around these corners to the future, we always want to be convinced that we can see that the product market possibility is actually imminent. We have been wrong on this many times, I assure you, sometimes resulting in challenging commercialization experiences! But sometimes, we predict accurately. We have been watching the autonomous vehicle market for several years. In 2017, we looked around a corner believing that such vehicles were closer to market than most people knew or believed. A lot of investment capital has flowed toward the technologies required to bring this vision to life. For that reason, autonomous vehicles are right around the corner: (click here!)
With this in mind, at Frontier we backed Driav, a business focused finding a solution to mitigate insurance risk for just this eventuality. This is a complicated problem to solve and requires all kinds of insight, driven by a combination of technology in the automobile, integrated with a completely new road map for insurance companies and auto manufacturers. We think the team at Driav is poised to help the autonomous vehicle vision come to life, safely, and we are excited to have given them the important fuel they required for timely commercialization. More to come soon on autonomous vehicles.