Hyundai Invests in Israeli Startup to Accelerate AI Deployment

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allegro.ai offers first end-to-end AI product life-cycle management solution with a focus on deep learning applied to computer vision

Hyundai CRADLE, Hyundai Motor Company’s corporate venturing and open innovation business, announced on Monday that it has made a strategic investment in allegro.ai, an Israeli startup which specializes in Deep Learning-based Computer Vision

The South Korean carmaker said that the partnership with allegro.ai will allow to speed up deployment of AI technology in many business areas and improve the quality of its products.

Founded in 2016, allegro.ai offers the first end-to-end DL lifecycle management solution focused on deep learning as it applies to computer vision. The company’s platform simplifies the process of developing and managing deep learning-powered solutions – such as autonomous vehicles, drones, security, logistics and others.

“Deep learning computer vision is one of the core technologies that can be applied to autonomous driving to navigate roads and make quick decisions in real-time – and allegro.ai is clearly an innovation leader in that field,” said Ruby Chen, Head of Investment at Hyundai CRADLE Tel Aviv.

He added, “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. This is our fifth investment in an Israeli company and our activities will continue to grow the coming year.”

Nir Bar-lev CEO and Co-founder of allegro.ai. Announced that they 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.

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“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,” Nir asserted.

Hyundai CRADLE partners and invests extensively in prominent global startups to accelerate the development of advanced future automotive technologies. It identifies newly established startups that focus, amongst others, on ‘Disruptive Innovations’, including mobility services, artificial intelligence, robotics, smart energy solutions, smart city and cyber security.

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