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| A model form of MDGo's vehicle passenger medical report / Courtesy of Hyundai Motor |
By Nam Hyun-woo
Hyundai Motor will invest in an Israeli tech firm that makes automated reports on car passengers' medical data in case of accidents, the car firm said Monday.
According to Hyundai Motor, it signed an investment deal recently with MDGo and began joint work to apply MDGo's analysis feature into Hyundai's connected car service.
The carmaker did not specify the amount of investment or stake it acquired, but it said it participated in MDGo's Series A fundraising. Series A funding typically ranges from $2 million to $15 million.
MDGo was established in 2017 to develop algorithms and services for automated medical analysis. In case of accident, MDGo's algorithm collects data secured by the vehicle's sensors and compiles the data into a report showing the seriousness of passengers' injuries.
The algorithm then sends this report directly to nearby hospitals and incoming ambulances, helping paramedics and doctors to provide optimal treatment.
Since last year, MDGo has been conducting field tests of the technology in Israel.
Hyundai Motor expects its securing of MDGo shares at an early stage will provide the company an advantage over its rivals. Hyundai plans to apply MDGo's technology to its connected car service.
"MDGo has world-leading technology in AI-based passenger safety data analysis, thus standing as the best partner for passenger safety," Hyundai Motor President Chi Young-cho said. "Starting from this, the partnership will help developing new technologies for innovative customer experience in safety."
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