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Potential secures $2M funding boost.

Potential Motors Inc., a Fredericton-based automotive tech firm, has secured an additional $2M in funding, bringing their total to $8.5M.

The investment round saw contributions from Brightspark Ventures, Build Ventures, NBIF, and Farpointe. The funds will be used to expedite the commercialization of their AI-powered perception technology tailored for off-road environments.

Under CEO Sam Poirier’s leadership, Potential Motors aims to enhance vehicle safety and performance in extreme terrains through its Terrain Intelligence platform, which utilizes forward-facing sensors to interpret various terrain features.

This latest funding follows partnerships with CFMOTO Powersports Inc. and a global automotive brand, with another pilot project lined up for Q2. Poirier emphasized the potential for their technology to benefit a wide range of vehicles, stating, “Our solutions can improve outcomes on the road too."