• CLEPA Membership Greatly Benefits STRADVISION's Ability to Contribute Further to the European Automotive Landscape

SEOUL, South Korea, April 3, 2023 /PRNewswire/ -- STRADVISION, an automotive industry pioneer in deep learning-based vision perception technology, has announced its new membership to CLEPA, the European Association of Automotive Suppliers.

Fellow CLEPA members include over 100 of the world's most prominent car parts, systems, and modules suppliers and over 20 national trade associations and European sector associations.

The membership recognizes STRADVISION's ongoing commitment and contributions within the advanced driver assistance systems (ADAS) and automotive perception fields. It allows the company to contribute to the European automotive industry. As a CLEPA member, STRADVISION will join alongside many of Europe and the world's foremost experts in contributing opinions and insight on the industry's many opportunities and issues.

"Our goals as both a perception tech company and automotive industry contributor have continued to grow across Europe, exemplified by our two German office openings and elsewhere globally," STRADVISION USA CEO Sunny Lee said. "We are thrilled to have been accepted as the newest member of CLEPA, which is the leading voice of the EU automotive supplier industry and is a driver of innovation and regulation throughout the automotive industry. Our team looks forward to connecting further with European peers and joining more discussions shaping the future of safety and innovation in the automotive industry."

STRADVISION's CLEPA membership follows the company's recent increased footprint in the German market, such as joining the VDA (Germany Association of the Automotive Industry). It also continues STRADVISION's global expansion and milestones over the past year, including a workforce increase of 69.2% YoY and Series C funding of $88 million ($129 million cumulative funding to date).

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; it can power ADAS and autonomous vehicles worldwide; and is serviced by over 300 employees in Seoul, San Jose, Detroit, Tokyo, Shanghai, Friedrichshafen, 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's software is certified to the ISO 9001:2015 for Quality Management Systems and ISO 26262 for Automotive Functional Safety.