Korean Autonomous Driving Startup 42Dot Bags $88.5M Series A To Accelerate Its Growth

Nov 02, 2021•almost 4 years ago

Amount Raised

$88.5 Million

Round Type

series a

Transportation

Description

42dot, a South Korea-based autonomous Transportation-as-a-Service (TaaS) startup, announced today it has raised $88.5 million (104 billion WON) in a Series A round of funding to advance its urban mobility operating system (UMOS).

Company Information

Company

42dot

About

The Seoul-based company will use the proceeds to advance its AI-based technology, establish joint ventures and hire staff. The company also plans to expand its business through investment and M&A, based on its statement. The lidar-free self-driving company developed an autonomous driving software and hardware solution, AKit, which uses only two types of sensors such as cameras and imaging sensor radar to perform all aspects of sensing the environment surrounding the autonomous vehicle. 42dot also built full-stack autonomous mobility and logistic platform called ‘Tap!’ that offers a raft of services across ride-hailing, fleet management, demand-responsive transport, smart logistics and more. 42dot was founded in 2019 by CEO and co-founder ChangHyeon Song, who is also Head of TaaS team at Hyundai Motors.

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