NEU-ISENBURG, Germany—Hankook & Company Co. Ltd., 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.
Hankook set up the investment fund in October as part of its long-term business portfolio STREAM, which stands for smart energy, tire and core business, rising tech, electrification, automation and mobility.
For its first investment, STREAM selected Korean startup Mobiltech, which specializes in artificial intelligent-based spatial information and services.
Founded in 2017, Mobiltech offers "highly accurate" 3D mapping solutions, including replica cities for various applications like urban planning and autonomous mobility.
The startup has developed 3D spatial information related hardware and software, and it 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 commercialization of autonomous mobility services.