Korean automaker Hyundai Motor announced today that it has established a strategic partnership including an investment in Israeli V2X (Vehicle to Everything) communication chipsets company Autotalks. No financial details were disclosed on the size of the investment but sources inform "Globes" that it was several million dollars. Autotalks has raised $80 million to date, prior to this latest investment, from previous investors including Magma Venture Capital, Gemini Israel Fund, Amiti Fund, Mitsui & Co. Global Investment, Liberty Ventures, Delek Motors, Fraser McCombs Ventures, Vintage Investment Partners and Samsung Catalyst Fund and Mirai Creation Investment Fund, of which the principal investors are Toyota Motor Corporation and Sumitomo Mitsui Banking Corporation.
Autotalks, founded in 2008 and based at Kfar Netter near Netanya, is a V2X-chipset market pioneer and leader providing OEMs, Tier-1 and Tier-2 customers with comprehensive V2X solutions. Autotalks' chipsets enable the V2X communication revolution by providing the most advanced, truly secure V2X solution created for autonomous vehicles. The chipsets are pre-integrated and designed to shorten development schedules and reduced costs. Autotalks’ cutting-edge technology addresses all key V2X challenges: communication reliability, security, positioning accuracy and vehicle installation.
Through its strategic partnership and investment Hyundai Motor plans accelerating the development and deployment of the next generation chipset for connected cars. Hyundai is expanding partnerships in the connectivity field to further strengthen connectivity technology vital to autonomous driving and explore new business opportunities within smart city infrastructure.
V2X technology allows vehicles to communicate with one another, with other road users and road infrastructure, enhancing road safety and mobility. The main focus of any V2X solution is safety. As a reliable non-line-of-sight sensor working in all environments and weather conditions, it helps prevent road collisions and avoid dangerous situations. In manned vehicles, V2X systems convey important information to the driver in the form of alerts and notifications and can also actuate the vehicle in dangerous situations. In autonomous vehicles, V2X complements existing sensors, allowing them to make more informed decisions as well as easing their interaction with other road users.
Autotalks CEO Hagai Zyss said, "Having a top global car manufacturer such as Hyundai invest directly in Autotalks is not only a vote of confidence in the company, but a testament to the growing V2X market. Hyundai’s pursuit of cutting-edge communication and safety technologies is a perfect match with Autotalks’ leading V2X capabilities. The funding from Hyundai will fuel Autotalks' technology roadmap as well as support our customers and partners all over the globe."
"Connectivity is one of the core technologies that can be applied to smart city business models, as well as autonomous driving and infotainment,” said Yunseong Hwang, director of open innovation business group at Hyundai Motor Company. He added “Hyundai will continue to invest in disruptive technologies that are in line with Hyundai’s current and future strategic pillars."
Published by Globes [online], Israel business news - www.globes-online.com - on July 3, 2018
© Copyright of Globes Publisher Itonut (1983) Ltd. 2018