StradVision, a Korean startup that develops driver assistance systems (ADAS) and AI-based camera recognition software for autonomous driving, has attracted 107.6 billion won ($81 million) in Series C round investment.
StradVision is recognized for its technological prowess in the global automobile market through its AI-based object recognition software ‘SVNet.’ In this Series C investment, US Aptiv, one of the three largest companies in the autonomous driving field, and Germany’s ZF, a world-class auto parts supplier, participated as strategic investors (SI). K-Clavis, Timefolio, and Nvestor participated as financial investors.
The series C investment amounted to 107.6 billion won ($81 million), and the total accumulated investment attracted 155.8 billion won ($118 million). Aptiv and ZF, participating in this Series C investment, will continue their strategic cooperation in advanced driver assistance systems (ADAS) and autonomous driving recognition technology.
In addition, Germany’s ZF also acquired a stake in Stradvision in March to expand its autonomous driving recognition software portfolio. Strategic investment companies with StradVision in the automobile industry include Hyundai Motor Group, Hyundai Mobis, LG Electronics, and Japan’s AISIN Group (VC indirect investment).
Junhwan Kim, CEO of StradVision, said, “Recently, StradVision has significantly strengthened its organization in overseas markets where important customers such as global automakers and parts companies are located. As the Series C investment is completed, it is expected to become a driving force for successfully implementing the large-scale mass-production project that has been prepared. We will do our best to expand AI-related software development.”
Meanwhile, ‘SVNet,’ developed by StradVision, is an ultra-lightweight and high-efficiency solution that implements deep learning-based object recognition with minimal computation and power consumption. And starting with the first mass production in 2019, it has signed a contract to supply its software to 13 manufacturers and more than 50 car models worldwide.
The startup is also aggressively recruiting talent. StradVision’s global employees and engineers stood at 308 as of June 2022, an increase of 69.2% from 191 as of June last year.
Also, StradVision established its North American subsidiary in Michigan to strengthen its position in the US autonomous driving market earlier this year.
More about StradVision,
- German auto parts maker ZF invests in autonomous driving technology developer StradVision
- StradVision gets recognition for futuristic technology; Joins South Korea’s ‘K-Unicorn Project’ investment program
- Stradvision’s Autonomous Vehicle Technology gets a boost with $27 million funding
- StradVision: Japanese investment for future of Autonomous Vehicle technology