Hyundai Mobis (Mobis) has agreed to invest KRW8bn (US$7.1m) in local start-up company StradVision which develops advanced software for object detection and recognition.
The investment will help strengthen Mobis' access to technology related to the emerging self-driving market. The component supplier, controlled by Hyundai Motor, aims to have a full-range of self-driving sensors for autonomous driving in place by 2020, including laser and radar-based sensors.
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Last May, Hyundai Motor vice-chairman Chung Eui-sun told reporters that wanted Mobis to become a global leader in self-driving technology.
Established in 2014 by graduates of the Pohang University of Science and Technology, StradVision develops deep learning-based perception software that recognises and understands objects such as other cars on the road and road signs, as well as pedestrians and animals.
The company has filed 14 technology patents to date, from software that can read text embedded in images to high-performance vision processing. Ten of these patents are registered in the USA.
StradVision also has partnership agreements with Nvidia, a leading US technology company which developed the graphics processing unit (GPU) and is a leader in the development of self-driving vehicle technologies.
Mobis also has technology partnerships with Germany's SMS and ASTYX for laser and radar sensing technology.
