July 4, 2018 | Hyundai Motor announced a new strategic partnership with Israeli company Autotalks through a direct investment to develop the next generation chipset for connected cars. Autotalks, founded in 2008, specializes in Vehicle to Everything (V2X) communication chipsets. V2X technology improves vehicle and road safety, mobility and is vital for autonomous driving, according to the company.
The investment sum by Hyundai was not disclosed. Autotalks has raised more than $70 million to date, according to Crunchbase figures
Yunseong Hwang, Director of open innovation business group, Hyundai Motor Company, said in a statement: “Connectivity is one of the core technologies that can be applied to smart city business models, as well as autonomous driving and infotainment. Hyundai Motor will continue to invest in disruptive technologies that are in line with Hyundai’s current and future strategic pillars.”
Autotalks CEO Hagai Zyss, said “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. The funding from Hyundai will fuel Autotalks’ technology roadmap as well as support our customers and partners all over the globe,” he went on.
Autotalks says its technology “helps reduce collisions on roadways and improve mobility with its automotive qualified chipsets,” which “offer the most advanced, truly secure and highest performing V2X communication solution designed for autonomous vehicles.”
Autotalks says its advanced technology “complements the information coming from other sensors, specifically in non-line-of-sight scenarios, rough weather or poor lighting conditions,” and “significantly improves overall road safety, effectively coordinating vehicles, self-driving cars, motorcyclists and pedestrians.”