StradVision Inc., which is building vision-processing software for autonomous vehicles, today announced that it has received a strategic investment from global automotive supplier Aisin Siki Co. as part of its $27 million Series B fundraising.
The startup, which was founded in 2014 and has offices in Seoul and San Jose, Calif., said it has developed algorithms to enable advanced driver-assistance systems (ADAS) and self-driving cars “to reach the next level of safety, accuracy, and driver convenience and help usher in the era of the fully autonomous vehicle.”
Aisin Group invested in StradVision through its corporate venture capital fund managed by Pegasus Tech Ventures. The $35 billion Tokyo-based company is owned by Toyota Group and said it is the sixth-largest Tier 1 supplier of automotive components and the largest transmission manufacturer in the world. Aisin Group includes more than 200 consolidated companies and 120,000 employees, 14,000 of whom are in the Americas.
StradVision builds safety software
StradVision said its “lean and compact” SVNet deep neural network can provide wide range of capabilities to autonomous vehicles, depending on the software’s type and model. SVNet is designed to facilitate functions such as detection of lanes, traffic signs and lights, free space, and objects. StradVision said these features enable safe driving even in poor lighting and weather conditions.
ADAS vehicles are already using StradVision’s software in China, where it has earned the Guobiao (GB) certificate. The company also received Automotive SPICE CL2 certification for the European market, and it is involved in vehicle projects in Japan, South Korea, Germany, India, and the U.S.
In addition, StradVision said it is developing software for predicting pedestrian and vehicle behavior, animal detection, gender recognition, auto labeling, and more.
Last week, StradVision appointed Andreas vom Felde as general manager of its European Union operations, including a Level 4 autonomous bus project.
Aisin Group participates in VCaaS model
StradVision first announced its Series B round in December. Aisin Group said its investment through Pegasus Tech Ventures “signals a new era for expansion and cooperation with StradVision, as both companies work together to meet the growing demands for driver-assistance technologies. StradVision’s solution will support millions of SUVs, sedans, and buses on the road soon.”
San Jose, Calif.-based Pegasus Tech Ventures has $1.5 billion under management and more than 35 corporate limited partnerships. It said it offers a unique venture capital-as-a-service (VCaaS) model for large, global corporations that wish to partner with cutting-edge technology startups.
“StradVision’s innovative deep learning-based camera software will become a major enabler of driver-assistance technologies and next levels of vehicle autonomy for mainstream implementations,” stated Anis Uzzaman, general partner and CEO of Pegasus Tech Ventures.
“At StradVision, we appreciate Pegasus Tech Ventures and Aisin‘s commitment to our future as we lead the advancement of camera technology in autonomous vehicles,” said Junhwan Kim, CEO of StradVision. “StradVision’s software solutions for ADAS and and autonomous vehicles are proving successful and attracting leading automakers and suppliers. We appreciate the Pegasus VCaaS model that enabled us to receive Aisin’s strategic capital through the Pegasus-managed fund and secure a great partnership with Aisin.”
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