Posco Capital, a corporate venturing subsidiary of steel producer Posco, has led a $27m series B round for StradVision, a South Korea-based developer of autonomous-vehicle processing technology.
Construction equipment producer Doosan’s Neoplux investment vehicle also took part, as did financial services firm Industrial Bank of Korea, IDG Capital, Lighthouse Combined Investment, LSS Private Equity, Mirae Asset Venture Investment and Timefolio Asset Management.
StradVision has developed video processing technology that helps autonomous vehicle systems execute functions such as blind-spot detection and automatic emergency breaking.
Junhwan Kim, StradVision’s CEO, said: “StradVision’s software solutions for autonomous vehicles and [advanced driver assistance] systems are proving successful and attractive to leading automakers and suppliers, as our latest round of funding strongly confirms.
“We appreciate all of our new investors coming on board, and StradVision will use this funding to take our ground-breaking products to the next level as we lead the advancement of camera technology in autonomous vehicles.”
The round took StradVision’s total funding to $40m, including $7m from Hyundai Mobis, the automotive components subsidiary of carmaker Hyundai Motor, in August 2018.
The company added $2.2m from venture capital firm Global Brain three months later, at which point its existing backers also included Hyundai Motor and LG Electronics, a subsidiary of diversified conglomerate LG.
