News Contact Us

Seoul Robotics raises $5M Funding for North American market expansion

Author : Pankaj Singh | Published Date : 2019-12-20 

Seoul Robotics, a leading company developing advanced software for Lidar sensors, has reportedly announced that it has raised $5M in funding from a Venture Capital firm led by a former head of Mergers and Acquisitions (M&A) for the APAC region for Google and the biggest Korean financial institutions.

Seoul Robotics has recently established its U.S. headquarter in Michigan to speed-up the growth in the North American market, which is led by David Han, the former global BD Director of Visteon. The company also has European OEMs as customers.

The company has released their very first software platform called SENSR™ which is an AI enabled self-driving car grade perception software used for 3D Lidars that gives highest accuracy of object detection, classification and tracking at minimum computational cost.

SENSR™ is presently being deployed for Korean institutions and corporations as well as European OEMs. It helps companies to utilize 3D Lidars without investing millions and wasting years to create their very own 3D data processing AI.

The funding round had been led by KB investment, one of Korea’s leading investment firms of venture capital, followed by KDB Capital and Artesian VC, the third largest Venture Capital in Australia. The capital would be used to further expand in the market of North America and develop Seoul Robotics technology into FPGA and embedded for mass mobility Lidar market by the end of 2020. Seoul Robotics would also allocate resources to meet demands from smart city market and from industrial robotics.

?SENSR™ by Seoul Robotics has been a key to the development, being fully integrated with conventionally available Lidar. The company with its deep experience in a broad range of Lidar sensors has become a profitable authority for choosing the right Lidar for different smart city and autonomous applications.

HanBin Lee, Captain, Seoul Robotics, reportedly stated that the demand for 3D computer vision would continue to increase. The company would be at the forefront to accelerate growth of Lidar with their software.

Seoul Robotics would be showcasing the software platform SENSR™ from January 7 -10, at the CES 2020 in Las Vegas.

Source credit: https://www.businesswire.com/news/home/20191218005825/en/Seoul-Robotics-Secures-5M-Funding-Product-North

About Author

Pankaj Singh

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

Related News

FDA suggests the recall of all Zantac drugs from the market

Published Date: 2020-04-03         Author: Pankaj Singh

America’s federal healthcare agency, the U.S. FDA has recently requested all drug manufacturers to immediately recall all over-the-counter and prescription ranitidine drugs that are commonly sold under the name Zantac from the market.  According to reliable sources, in its ongoing inve... Read More

Skyrora to produce masks and sanitizers for UK amid COVID-19 crisis

Published Date: 2020-03-30         Author: Pankaj Singh

Skyrora, a Scotland based private space company, reportedly announced that it would start manufacturing health equipment for frontline workers in the United Kingdom, answering the call of the UK government as well as the National Health Service to help the country fight the growing spread of the cor... Read More

InterSystems launches a new version of InterSystems IRIS Data platform

Published Date: 2020-03-26         Author: Pankaj Singh

InterSystems, a U.S based software firm that focuses on helping consumers solve crucial interoperability, speed, and scalability problems efficiently, recently revealed its latest version of the InterSystems IRIS™ data solution. Reportedly, this comes as its third major launch of InterSyste... Read More

© 2020 Fractovia. All Rights Reserved