Hyundai CRADLE, Hyundai Motor Company’s corporate venturing and open innovation business announced today its strategic investment in allegro.ai, a technology company specializing in deep learning (DL)- based computer vision. The partnership allows for faster deployment of AI technology in many business areas, and will improve Hyundai’s products.
Allegro.ai was founded in 2016 and 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".