StradVision, a Seoul, South Korea-based developer of vision processing technology for Autonomous Vehicles, raised $27m in Series B funding.
The round – which brought total funding to $40m – was led by Posco Capital with participation from IDG Capital; Industrial Bank of Korea; Lighthouse Combined Investment; LSS Private Equity; Mirae Asset Venture Investment; Neoplux; and Timefolio Asset Management.
The company intends to use the funds to continue to develop its products.
Led by Junhwan Kim, CEO, StradVision develops vision processing technology software that allows Advanced Driver Assistance Systems (ADAS) in Autonomous Vehicles to improve safety, accuracy and driver convenience.
The company’s efforts are based on its SVNet Deep Learning-based software, which enables high-level perception abilities including: Lane Detection, Traffic Light & Sign Detection/Recognition, Object Detection and Free Space Detection.
With multiple mass production projects ongoing in China and Europe, in partnership with leading global OEMs and Tier 1 suppliers, StradVision will have millions of vehicles on the roadways using its software for Autonomous Vehicles and ADAS systems by 2021 — including SUVs, sedans and buses.
The company currently has more than 105 employees in the United States, Germany, Korea, and Japan.