Hyundai CRADLE—Hyundai Motor Company’s corporate venturing and open innovation business—has announced an investment in allegro.ai, a company specializing in deep learning-based computer vision, in a partnership that aims to speed up deployment of artificial intelligence (AI) technology in many Hyundai business areas.
Founded in 2016, allegro.ai offers an end-to-end deep learning lifecycle management tool focused on deep learning as it applies to computer vision. The company’s platform is designed to simplify the process of developing and managing deep learning-based solutions, including 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."
Additional investors in allegro.ai include MizMaa Ventures, Robert Bosch Venture Capital GmbH, Samsung Catalyst Fund, Dynamic Loop Capital, and Gandyr.
View more information on allegro.ai.