Neu-Isenburg, Germany - Hankook & Co., the parent company of Hankook Tire & Technology, has set up an investment fund to support growth in future technologies and has invested in a 3D spatial information startup in its first move.
STREAM, standing for ‘smart energy’, ‘tire & core business’, ‘rising tech’, ‘electrification’, ‘automation and ‘mobility’ has been set up to support Hankook’s long-term business portfolio, said the Korean group 6 Dec.
For its first investment, STREAM selected Korean startup Mobiltech, which specialises in artificial intelligent (AI)-based spatial information and services.
Founded in 2017, Mobiltech offers “highly accurate” 3D mapping solutions, including 'replica cities' for various applications including urban planning and autonomous mobility.
The startup has developed 3D spatial information related hardware and software, and provides precision maps to many customers including automotive AI specialist Phantom AI.
Hankook said it foresees that the global market for high-precision 3D data will grow rapidly with the commercialisation of autonomous mobility services.