Annotell raised $24 million in a Series A financing round led by Metaplanet and NordicNinja.

Annotell, a Gothenburg, Sweden-based software provider that allows mobility companies to ensure high-quality performance of self-driving cars’ perception systems, announced completing series A equity funding in a round closed at $24 million.

The money was raised from Nordic investors, namely Jaan Tallinn’s Metaplanet and Europe’s Japanese fund based in Finland, NordicNinja, as well as existing owners Ernström & Co and Stena Sessan.

Annotell, founded in 2018 by CEO Daniel Langkilde and Oscar Petersson, develops an analytics and annotation platform, which enables carmakers to ensure the performance of self-driving cars’ perception systems.

The company's tech is combining highly automated annotation with detailed quality analytics and data browsing, and reduces the development cost and shortens the production timeline without compromising on safety. The company works with several AD companies such as Zenseact (fmr. Zenuity), a subsidiary of Volvo Cars, and Volvo Group and have a global client base and offices in Gothenburg, Sweden as well as Munich, Germany.

Prior to this round, Annotell raised €5.8 million from Ernström & Co and Stena Sessan in 2020 and €1.1 million in 2019.