StradVision Acquires ISO 26262 Certification; hires new CFO

STERLING HEIGHTS, MICHIGAN ― StradVision, an AI-based vision processing technology company for Autonomous Vehicles and ADAS, announced that it has obtained the ISO 26262 certification for automotive functional safety from TÜV Rheinland, a globally renowned third-party testing, inspection and certification company.

The ISO 26262 certification was established as a global standard by the International Organization for Standardization (ISO) in 2011 to minimize risks from electric or electronic system malfunction in vehicles. StradVision, which recently unveiled its new North American headquarters in Sterling Heights, has been recognized as a software supplier with a high level of functional safety, satisfying automotive customers' demands by meeting the requirements of ISO 26262 throughout the development and management process of its camera perception software SVNet.

“The automotive industry is transforming into a new business that provides new mobility, transportation, and various experiences in the car as a service, and software is the most powerful driver of this change,” StradVision CEO Junhwan Kim said. “The acquisition of ISO 26262 Functional Safety Management certification demonstrates StradVision's competence as a global leader in software, a key component of future mobility innovation.”

Currently, the automotive industry is focused on adopting various driver assistance features in vehicles to improve safety and convenience for drivers and pedestrians. As the performance of semiconductors and adoption of diverse sensors in vehicles continues to increase, the importance of safety standards for software, and their level of sophistication, has also risen.

“StradVision has successfully built its management system that delivers camera perception software meeting the functional safety requirements for automakers and automotive tier-1 suppliers,” said Frank Juettner, CEO of TÜV Rheinland Korea. "We are pleased to present ISO 26262 certification for the software that will contribute to enhancing functional safety in the automotive industry.”

StradVision, established in 2014 in South Korea, continues to accelerate the advancement of Autonomous Vehicles. SVNet, its AI-based vision perception software, achieves higher efficiency in memory usage and energy consumption and can be customized and optimized to any system on a chip (SoC).

The software that has been honored with the Gold Award at the 2021 AutoSens Awards for Best-in-Class Software for Perception Systems is currently used in mass production models of ADAS and autonomous driving vehicles that support safety function Levels 2 to 4, and will be deployed in more than 50 vehicle models from 13 OEMs worldwide.

StradVision Appoints Sunghyun Chang as Chief Financial Officer

StradVision has also announced the appointment of Sunghyun Chang as Chief Financial Officer (CFO). In this position, Chang will lead StradVision’s financial team and is responsible for corporate financial actions and strategic growth initiatives, as well as investor relations.

StradVision expects to further strengthen its overseas business capabilities by recruiting Chang, who has accumulated experience in international financial management throughout his career.

“This year, we plan to expand our business in key markets where major automakers are located, including North America, and for this, we want to strengthen investment and recruitment in overseas subsidiaries,” StradVision CEO Junhwan Kim said. “We anticipate that the appointment of Sunghyun Chang, Chief Financial Officer, who has experience in financial management in various industries, will give us greater strength to achieve this strategic goal.”

Chang is a finance expert who started his career at KPMG, one of the four largest accounting firms in Korea. During his tenure at KPMG, Chang served as an overseas dispatcher in Europe for three years. Since then, he has worked for various companies and industries such as Anheuser-Busch InBev, the world's largest brewer; Gencurix, a molecular diagnostic solutions company, and B2Link, a K-beauty commerce company.

Chang holds a U.S. Charted Financial Analyst (CFA) certificate in addition to his Certified Public Accountant (CPA) qualification, and has been mainly in charge of financial management of multinational corporations, attracting foreign investment for startups, and managing investor relations.