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Hyundai Invests in Israeli Auto Tech Firm Autotalks

Hyundai Motor Co said on Tuesday it was partnering with Autotalks, an Israeli provider of vehicle to everything (V2X) communication technology for improving road safety

Autotalks, founded in 2008, specializes in Vehicle to Everything (V2X) communication chipsets.

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.

"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 Motor will continue to invest in disruptive technologies that are in line with Hyundai’s current and future strategic pillars.”

According to Autotalks CEO Hagai Zyss, “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".

My. Zyss explained that "the funding from Hyundai will fuel Autotalks’ technology roadmap as well as support our customers and partners all over the globe".

Autotalks raised to date $80 million from Magma Venture Capital, Gemini Israel Fund, Amiti Fund, Mitsui & Co. Global Investment, Liberty Media’s Israeli Venture Fund, Delek Motors, Fraser McCombs Ventures, Vintage Investment Partners and Samsung Catalyst Fund, Mirai Creation Investment Fund (backed by Toyota Motor) and Sumitomo Mitsui Banking Corporation.

#AutoTech #Fundraising #Israel #Startup

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