IRVINE, Calif. and SEOUL, Republic of Korea, Sept. 22, 2022 (GLOBE NEWSWIRE) — Seoul Robotics, the corporate powering the way forward for autonomy by means of good infrastructure, at this time introduced roughly $25M Series B funding, led by KB Investment.
Seoul Robotics was based in 2017 to present the mobility {industry} with essentially the most superior pc imaginative and prescient for 3D sensors and pioneer a brand new strategy to automating autos known as ‘Autonomy Through Infrastructure’ (ATI). ATI includes putting autonomous driving methods on infrastructure, relatively than every automotive, to seize the holistic view required to obtain automobile autonomy.
This novel strategy enhances the scalability and monetary viability of clever transportation networks by eradicating the prohibitive prices of equipping particular person autos with cameras and sensors, whereas additionally overcoming security obstacles by making a shared imaginative and prescient with out blindspots. Seoul Robotics will use the Series B funding to deliver its industry-leading, infrastructure-based autonomous driving options to the worldwide logistics {industry}.
“Infrastructure has been assisting drivers since the first traffic light was introduced over a hundred years ago, but unlike the current system, which is designed to assist humans, Seoul Robotics is pioneering a new way to leverage infrastructure that enables autonomous robots and cars to reach their full potential,” said HanBin Lee, CEO and Co-Founder of Seoul Robotics. “This groundbreaking approach is made possible through our leading 3D computer vision technology that has been recognized as the most advanced solution in the industry. With this funding, we will continue developing industry-transforming solutions that will drive the future of mobility and deliver beyond what we can even conceptualize today.”
Seoul Robotics’ proprietary ATI resolution, Level 5 Control Tower (LV5 CTRL TWR), consists of a mesh community of sensors and computer systems which might be put in on infrastructure and makes use of V2X communication to flip non-autonomous vehicles into self-driving autos. LV5 CTRL TWR makes use of the connectivity already constructed into at this time’s fashionable autos to autonomously maneuver them with out requiring any {hardware} changes. LV5 CTRL TWR is powered by Seoul Robotics’ core know-how, SENSR™, an industry-leading, patented 3D notion software program utilizing deep studying and weather-filtering capabilities to present high-resolution environmental insights. The first-of-its-kind, scalable resolution achieves full Level 5 autonomy and may drive a whole bunch of autos concurrently.
LV5 CTRL TWR is at present getting used to automate completed automobile logistics at a BMW facility in Germany. Automating this traditionally handbook course of makes it safer and extra environment friendly, whereas additionally enabling firms to overcome the industry-wide driver scarcity. The new funding will gas additional growth of this resolution for automotive logistics, worldwide enlargement and new {industry} partnerships. Looking forward, Seoul Robotics can even leverage the capital to prolong its know-how to further logistic functions equivalent to rental automotive fleets and trucking yards.
“Every organization is looking for ways to bring value and efficiency to driver operations, and the need for autonomous solutions is especially urgent given recent labor shortages in the logistics industry,” mentioned JunSeok Lee, Director at KB Investment. “Seoul Robotics is executing decisively on its vision for Autonomy Through Infrastructure with the LV5 CTRL TWR, delivering massive cost savings through an entirely new approach. Their success to date gives us full confidence that they will continue to transform the logistics industry, as well as great pride in the innovative spirit of Korea’s technology sector.”
In addition to KB Investment, Noh and Partners, Future Play, Korean Development Bank, Artesian, and Access Ventures additionally contributed to Seoul Robotics’ Series B funding spherical.
To study extra about Seoul Robotics’ sturdy product choices, or in case you are in becoming a member of the corporate’s rising staff, please go to www.seoulrobotics.org.
About Seoul Robotics
Seoul Robotics is powering the way forward for autonomy by means of good infrastructure. The firm was based in 2017 to present the mobility {industry} with essentially the most superior pc imaginative and prescient for 3D sensors and pioneer a brand new strategy to automating autos known as ‘Autonomy Through Infrastructure’. Seoul Robotics supplies autonomous driving methods for numerous functions inside the logistics {industry}, leveraging its proprietary 3D notion know-how, SENSR™, which affords unequalled accuracy, effectivity, and security. Seoul Robotics has workplaces in Seoul, Munich, California, and Raleigh and is backed by main world monetary establishments. For extra data, go to www.seoulrobotics.org.
Contact
Ann Gargiulo
[email protected]
LaunchSquad for Seoul Robotics
[email protected]
