Hyundai Mobis said on Wednesday that it has invested US$40 million into US autonomous driving startup Zendar.
Zendar was founded in 2017 has received over US$100 million from Khosla Ventures in 2019.
The startup offers an AI-based radar software that it says increases radar performances to equal lidars.
Radar can work in adverse weather conditions where camera and lidar won’t, according to Zendar.
Its technology can offer Level 3 autonomous driving by using radar with upped performances.
A person familiar with the matter said the company, like Seoul Robotics, offers software that optimizes radar performances.
It has been seeking investment since last year, they added.
Hyundai Mobis’ rival Mando is also developing its own imaging radar __ it plans to manufacture a 768-channel 4D imaging radar in 2024.
Meanwhile, Hyundai Mobis announced that it recorded 41.7 trillion won in revenue and 2.36 trillion won in net income last year, an increase of 13.9% and 54.7%, respectively, from the year prior.