Hyundai invests in Israeli Autotalks
Hyundai has decided to invest in the Israeli start-up Autotalks, which promotes communication solutions between vehicles to prevent the next car accident. The exact amount of the investment has not been published, but it stands at several million dollars, joining four rounds of fundraising in which the company raised more than $ 80 million.
Among the Autotalks investors are the Mirai Creation investment fund, the largest investor being Toyota; Samsung Catalyst Fund (SCF), Magma Venture Capital, Gemini Israel Fund, Mitsui & Co. Global Investment, Amiti Fund, Liberty Israel Venture Fund and Delek Motors.
The company was founded in 2008 by On Haran and Nir Sasson and employs about 100 workers in Israel (Kfar Netter), USA, Japan, Korea, Germany and France.
Autotalks produces a chip for communication between vehicles that allows them to exchange information even when traveling at high speed and hidden from each other. The chip contains a multi-layered information security system that is designed to ensure that the vehicle will only refer to reliable information received. The same information is processed in the component shown to the driver if necessary. Autotalks' VEX "Vehicle to Everything" technology will enable autonomous vehicles to understand the intentions of other vehicles, coordinate between vehicles for "ordinary" vehicles and between vehicles and infrastructure such as traffic lights, increasing road utilization and reducing pollutant emissions.