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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.
