SEOUL,
South Korea, May 20, 2024
/PRNewswire/ -- STRADVISION, the creator of award winning
AI-powered image recognition software 'SVNet', is proud to announce
its successful completion of the technology evaluation for the
KOSDAQ technology special listing, achieving an impressive 'A, A'
rating. This achievement supports the company's ongoing efforts
towards its Initial Public Offering (IPO).
The KOSDAQ Technology Special Listing is a system on the Korea
Securities Dealers Automated Quotations (KOSDAQ) market designed to
facilitate the listing of technology-intensive companies.
STRADVISION is making significant strides towards its IPO, aiming
to initiate the KOSDAQ technology special listing review process in
the second half of 2024, with support from KB Securities.
To qualify for the KOSDAQ technology special listing, a
technology must receive a rating of A or BBB or higher from two
designated professional evaluation agencies. STRADVISION's
achievement of an 'A, A' rating underscores its excellence across
core technology, technological scalability, competitive advantage,
commercialization, and market competitiveness.
Since its establishment in 2014, STRADVISION has pioneered data
processing technology essential for automotive ADAS perception
solutions, advanced 2D and 3D algorithms, and the
hardware-independent Common Platform Framework (CPF), a versatile
and hardware-independent software framework integral to its
pioneering automotive ADAS perception solutions, known for its
adaptability across chipsets and recognized for top-tier technology
reliability and regulatory compliance. Its independent development
and adaptability to both low and high-end chipsets have earned high
praise, along with top marks for technology reliability and
regulatory compliance, including GSR, Euro NCAP 5-star ratings, and
TISAX AL3 certification.
Junhwan Kim, CEO of STRADVISION,
expressed, "In the automotive industry, where safety is paramount,
the sustained partnerships with OEMs and Tier 1 customers are
critical." He continued, "Our pursuit of a KOSDAQ listing signifies
our commitment to enhancing corporate value through financial
stability, technological advancement, and commercial expansion.
STRADVISION's flagship solution, SVNet, an AI-based object
recognition software for vehicle ADAS, has been deployed in 13 OEMs
and over 50 vehicle models since its commercial debut in 2019. With
the introduction of SVNet's 3D Perception Network, annual
production has exceeded 1 million units from 2023, marking a
substantial 189% growth compared to 2022. Renowned for its
lightweight design and operational efficiency, SVNet has been
integrated into more than 1.82 million vehicles globally, setting a
new standard for automotive vision technology innovation.
For more information on STRADVISION and its cutting-edge
technologies, please visit STRADVISION.
About STRADVISION
Founded in 2014, STRADVISION is an automotive industry pioneer
in artificial intelligence-based vision perception technology for
ADAS. The company is accelerating the advent of fully autonomous
vehicles by making ADAS features available at a fraction of the
market cost compared with competitors. STRADVISION's SVNet is being
deployed on various vehicle models in partnership with OEMs; can
power ADAS and autonomous vehicles worldwide; and is serviced by
over 300 employees in Seoul, San
Jose, Detroit, Tokyo, Shanghai, and Dusseldorf. STRADVISION has been honored with
Frost & Sullivan's 2022 Global Technology Innovation Leadership
Award, the Gold Award at the 2022 and 2021 AutoSens Awards for
Best-in-Class Software for Perception Systems, and the 2020
Autonomous Vehicle Technology ACES Award in Autonomy (software
category). In addition, STRADVISION and its software have achieved
TISAX's AL3 standard for information security management, as well
as being certified to the ISO 9001:2015 for Quality Management
Systems and ISO 26262 for Automotive Functional Safety.
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SOURCE StradVision