Lidar firm SOS Lab lands $6M

Korean startup is the latest to target the future market for autonomous driving; auto parts giant and Hyundai among early backers. SOS Lab, a Korean startup company developing lidar equipment for future autonomous vehicles, has completed a series A round of venture funding worth around $6 million.

The firm, founded in 2016 and based at the Gwangju Institute of Science and Technology (GIST), says it has attracted backing from Korea-headquartered global giants in the form of automotive components supplier Mando and the investor wing of car manufacturer Hyundai.

Headed up by CEO Jiseong Jeong, SOS Lab says that the injection of cash will allow it to look beyond the domestic Korean market as it continues developing its compact sensor units with a view to garnering further investment.

While the series A round was led by Mando, other investors to participate included KDB Capital, Mirae Asset, SL Investment, WM Investment, BA Partners, RyukyungPSG Asset Management, and Future Play, while SOS Lab is said to be the first startup to receive backing from the recently formed Hancom Investment… Full article