Hyundai has announced a strategic investment in deep learning-based computer vision company allegro.ai, with a view to enhancing road navigation and real-time decision making for Hyundai’s autonomous driving systems.
The investment came through Hyundai CRADLE Tel Aviv, Hyundai Motor’s corporate venturing and open innovation business in Israel.
allegro.ai’s platform simplifies the process of developing and managing deep learning-powered solutions, such as autonomous vehicles.
“We are proud to partner with Hyundai and share Hyundai’s belief that AI empowers the industry to provide greater road safety, autonomy, to better understand customers’ needs and to help broaden their experiences,” said Nir Bar-lev CEO and Co-founder of allegro.ai.
“Whether a company is developing autonomous vehicles, drones, security, or other types of applications, allegro.ai makes it easy for them to manage their data-sets and build deep learning-based solutions while guaranteeing complete and confidential control of their data.”
Ruby Chen, Head of Office at Hyundai CRADLE Tel Aviv, said: “Our investment in allegro.ai is a further step in enhancing our presence in the Israeli market, a global leader of technological innovation in the fields of automation, artificial intelligence and deep learning and allegro.ai is clearly an innovation leader in that field.”