allegro.ai, a Tel Aviv, Israael-based deep learning computer vision startup, received a strategic investment from the Hyundai Motor Company.
The amount of the investment – made by Hyundai CRADLE Tel Aviv, Hyundai Motor’s corporate venturing and open innovation businesses in Israel – was not disclosed.
With the strategic investment, Hyundai aims to speed up deployment of AI technology. allegro.ai’s technology is expected to enhance road navigation and real-time decision making for Hyundai’s autonomous driving systems.
Founded in 2016 and Nir Bar-lev, CEO and Co-founder, allegro.ai offers a 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.
Investors include MizMaa Ventures, Robert Bosch Venture Capital GmbH, Samsung Catalyst Fund, Dynamic Loop Capital and Gandyr.