Challenge to Israeli Mobileye: CarVi Attempts to Capture Global Car Market with 'Original ADAS Technology' | BusinessKorea

Sunday, April 30, 2017

CarVi’s internet homepage.
CarVi’s internet homepage.
SEOUL,KOREA
21 April 2017 - 11:00am
Michael Herh

The Advanced Driver Assistance System (ADAS) has been attracting attention as the government announced a plan to make it compulsory to load large vehicles with advanced safety devices.

Korean start-up CarVi threw its hat into the ADAS ring. CarVi provides personalized driving guidance service not only with a front collision and lane departure alarm but also a driving habit data collection function through a camera sensor on the front of a vehicle.

According to KT, CarVi has original ADAS technology based on camera image recognition. Since the ADAS is regarded as a core technology in the market of self-drive cars,so many companies are engaging in the technology, but CarVi stands outamong them.

CarVi, a round camera sensor terminal, can be attached on the windshield of a car. Collected images via CarVi are connected to a CarVi server sodrive pattern data are accumulated.

"CarVi is not merely a combination of technologies in the market. The key is our own image recognition technology," CarVi CEO Lee Eun-su said, "There are only a few companies that have this core technology in the world."

Last year, CarVi attracted 6 billion won(US$5.4 million) investment from KT, Samsung and POSCO and successfully raised funds at the overseas crowdfunding platform "Indiegogo", getting much attention from Silicon Valley in the US.

Nevertheless, CEO Lee said, "Westill havea long way to go." This is because Israeli company Mobileye with ADAS technology based on image recognition similar to CarVi is commanding an 80% share of the world market. Mobileye has been developing and upgrading its own technology for a long time.

"Many US insurance companieshave a big interest in our company," CEO Lee said. "We want to be a leader in the car insurance market in the US, Europe and China."

 

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