Hyundai Mobis, an auto parts supplier, has inked an investment deal worth 8 billion won ($7.1 million) with the Korean startup StradVision, which develops deep learning-based object detection and recognition technology, the company said Wednesday.
The latest move comes as the company has vowed to develop sensors required for self-driving, such as lidar and radar, by 2020.
StradVision was established in 2014 by graduates of the Pohang University of Science and Technology. It owns deep learning-based perception software that identifies and comprehends cars, pedestrians and road signs, among others.
“Deep learning is receiving much attention as a game-changing, cutting-edge technology in the self-driving camera segment. Mobis will strive to obtain self-developed autonomous driving technologies by developing deep learning-based cameras until 2020,” said Hwang Jae-ho, director of Hyundai Mobis’ DAS Engineering Group.
Deep learning is artificial intelligence that categorizes similar patterns in data. When applied to automobiles, deep learning is used to identify and recognize vehicles, pedestrians, humans and animals.
StradVision has 14 patents in reading texts in images and high performance vision processing, among which 10 are registered in the US, the company said.
It is also in partnership with leading American technology company Nvidia, the inventor of GPU and leader in self-driving vehicle platforms.
According to global market research firm Strategy Analytics, the autonomous vehicle sensor market that was worth $7.4 billion in 2016 will expand to $20.8 billion in 2021, with 23 percent annual growth. In the same period, the market size of camera sensors will increase threefold to be worth $7.9 billion from $2.7 billion, and make up some 40 percent of the self-driving sensor market.
In May, Hyundai Motor Vice Chairman Chung Eui-sun said in an interview that Hyundai Mobis would become the group’s leader in self-driving and future technology. The auto parts maker is currently developing high performance lidar with Germany’s SMS and ASTYX.
By Kim Bo-gyung (email@example.com