SEOUL, South Korea, June 17, 2024 /PRNewswire/ -- STRADVISION, the creator of award-winning AI-powered image recognition software 'SVNet', was honored with the 'Global Innovator Award' at the 'NextRise 2024 Seoul', a global startup fair held at COEX in Samseong-dong, Seoul on June 14th.

NextRise 2024, now in its sixth year, is hosted by KDB Bank (Korea Development Bank) and the Korea International Trade Association (KITA). This event brings together over 500 domestic and international startups and global companies to showcase innovative technologies through exhibitions, business meetings, and lectures. Award-winning companies are selected through a comprehensive evaluation of technology, business feasibility, and team competitiveness.

STRADVISION received the 'Global Innovator Award' for its deep learning-based vision perception technology, SVNet, which is distinguished by its ultra-light design and exceptional efficiency. Since its commercial launch in 2019, SVNet has been adopted by 13 automakers across 50 vehicle models. It is installed in more than 2 million vehicles worldwide, enhancing road safety and convenience.

Taesan Kwon, Vice President of Project Management of STRADVISION, expressed his gratitude, stating, "We are thrilled and thankful for the recognition of STRADVISION's unmatched technology and efforts in the global market, which align with our customers' forward-looking vision." He continued, "As a leading Korean company with a worldwide presence, we will enhance our global competitiveness and continue our evolution into a future-focused enterprise."

Meanwhile, STRADVISION is preparing for an initial public offering (IPO) to apply for listing on the Korea Securities Dealers Automated Quotations (KOSDAQ) market in the second half of this year. 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. The company recently passed the technology evaluation for KOSDAQ's special technology listing with an 'A, A' rating.

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.

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.