Hyundai Invests in Autonomous Vehicle Chipset Developer Autotalks

Hyundai said Tuesday that it has invested in Autotalks Ltd., an Israel-based developer of communication chipsets for autonomous driving.

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The South Korean automaker did not announce the terms of the deal, but a spokesman for Autotalks told Calcalist that the investment is in the single-digit millions of dollars.

Hyundai said the funding is intended to help Autotalks further develop its technology, which enables vehicles to communicate with drivers, other vehicles and infrastructure.

Founded in 2008, Autotalks raised $80 million in four prior funding rounds from investors including Gemini Israel Ventures, Magma Venture Partners, Mitsui & Co. Global Investment Ltd, Amiti Ventures LLC, and Liberty Media Corporation.

The company is headquartered in a rural town in Israel and has additional offices the U.S., Europe and East Asia.