Hyundai CRADLE, Hyundai Motor Company’s corporate venture and open innovation business announced its strategic investment in allegro.ai, a leading technology Israeli start-up specializing in deep learning (DL) – based computer vision. The partnership is aimed at enhancing efficacy in deployment of AI technology in varied avenues and businesses for increasing customer satisfaction while creating a safer driving environment by improving Hyundai’s products quality.
Founded in 2016, allegro.ai offers the first end-to-end DL lifecycle management solution focused on deep learning related 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.
Allegro.ai recognizes the key role of computer vision in AI solutions and helps implement Computer Vision solutions in spectra of fields from understanding results in medical laboratories and clinical trials, to visual quality control, and creating better solutions in smart cities, retail, security, health, robotics and the likes. Allegro.ai simplifies the process of developing and managing Deep Learning-powered solutions and helps create products that continue to learn even after they are deployed in the field.
Ruby Chen, Head of Investment at Hyundai CRADLE Tel Aviv said, “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”. 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.”
“We are proud to partner with Hyundai and share Hyundai’s belief that AI empowers the industry to provide greater road safety, autonomy, to better understand customers’ needs and to help broaden their experiences,” said Nir Bar-lev CEO and Co-founder of allegro.ai. “Whether a company is developing autonomous vehicles, drones, security, or other types of applications, allegro.ai makes it easy for them to manage their data-sets and build deep learning-based solutions while guaranteeing complete and confidential control of their data.”
Before establishing Allegro.ai in 2016, Bar-Lev spent 10 years in Google playing a key role in establishing Google’s R&D center in Israel and heading Google’s advertising business in EMEA while leading a digital payment solutions business unit as well.
Hyundai CRADLE is Hyundai Motor’s corporate venturing and open innovation business, which partners and invests extensively in prominent global start-ups to accelerate the development of advanced future automotive technologies.
Allegro.ai is a deep learning computer vision platform, which provides a complete data and product lifecycle management solution for deep learning development and production, beginning with computer vision. allegro.ai’s investors include MizMaa Ventures, Robert Bosch Venture Capital GmbH, Samsung Catalyst Fund, Hyundai Motor Company, Dynamic Loop Capital and Gandyr. Further information of allegro.ai is available on www.allegro.ai. Additionally, Allegro.ai is announcing the launch of two strategic initiatives – The Startup Program and The Partner Network.