Seoul Robotics Lands $25M to Transform Logistics Industry and Advance Autonomous Mobility Through Intelligent Infrastructure | tech news

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The deployment of LiDAR technology has accelerated in recent years, with almost every electric vehicle company working on self-driving cars currently using LIDAR, with the exception of Tesla. While it is commonly used in autonomous cars, other areas such as logistics, robotics, security, intelligent traffic management, and smart cities are expected to be the dominant areas for LiDAR sensors.

Two of the leading companies using LiDAR and emerging 3D technology to support self-driving cars and smarter cities are Intel’s Seoul Robotics and Mobileye. Seoul Robotics is a 3D computer vision company developing intelligent robotic perception systems using AI and machine learning. We covered the company in July 2021 after receiving a $12 million investment from the Korean government to build intelligent robotic perception systems using AI and machine learning. Now the company has just closed a new round of financing.

Today, Seoul Robotics announced it has raised approximately $25 million in Series B funding to transform the logistics industry through a novel approach to autonomous driving. The round was led by KB Investment, with participation from Noh and Partners, Future Play, Korean Development Bank, Artesian and Access Ventures.

Founded in 2017 by Han Bin Lee, Seoul Robotics provides OEMs, system integrators and government agencies around the world with access to LiDAR and 3D sensing solutions through its proprietary SENSR™ perception software platform.

The sensor-agnostic software uses machine learning to analyze and understand 3D data with extreme accuracy to support a range of functions from basic tracking and surveillance to autonomous mobility. Before founding the company four years ago, there was no bridge between LiDAR manufacturers and non-automotive industries that could benefit from insights gained from 3D data.

The startup’s mission is to provide the mobility industry with the most advanced computer vision for 3D sensors and to pioneer a new approach to automating vehicles called Autonomy Through Infrastructure (ATI). ATI involves placing autonomous driving systems on top of infrastructure, rather than on every car, to capture the holistic view required to achieve vehicle autonomy.

His novel approach improves the scalability and affordability of intelligent transport networks by eliminating the prohibitive costs of equipping individual vehicles with cameras and sensors, while breaking down security barriers by creating a shared vision with no blind spots. Seoul Robotics will use the Series B funding to bring its industry-leading, infrastructure-based autonomous driving solutions to the global logistics industry.

“The infrastructure has been supporting drivers since the first traffic light was introduced over a hundred years ago, but unlike the current system, which is designed to support people, Seoul Robotics is pioneering a new way to use the infrastructure that it autonomous robots and cars to reach their full potential,” said HanBin Lee. “This breakthrough approach is made possible by our leading 3D computer vision technology, recognized as the most advanced solution in the industry. With this funding, we will continue to develop industry-changing solutions that drive the future of mobility and beyond what we can imagine today.”

Seoul Robotics’ proprietary ATI solution, Level 5 Control Tower (LV5 CTRL TWR), consists of a mesh network of sensors and computers installed on top of the infrastructure and leverages V2X communications to transform non-autonomous cars into self-driving ones transform vehicles. LV5 CTRL TWR leverages the connectivity already built into today’s modern vehicles to maneuver them autonomously without the need for hardware adjustments. LV5 CTRL TWR is based on Seoul Robotics’ core technology, SENSR™, an industry-leading, patented 3D perception software that uses deep learning and weather filtering capabilities to deliver high-resolution environmental insights. The first scalable solution of its kind achieves full Level 5 autonomy and can drive hundreds of vehicles simultaneously.

LV5 CTRL TWR is currently being used to automate finished vehicle logistics at a BMW plant in Germany. Automating this traditionally manual process makes it safer and more efficient while allowing companies to overcome the industry-wide driver shortage. The new funding will drive further development of this automotive logistics solution, international expansion and new industry partnerships. Looking ahead, Seoul Robotics will also use the capital to expand its technology to additional logistics applications such as rental car fleets and truck yards.

“Every company is looking for ways to add value and efficiency to driving operations, and the need for autonomous solutions is particularly urgent given the recent labor shortage in the logistics industry,” said JunSeok Lee, director at KB Investment. “Seoul Robotics resolutely executes on its vision of Autonomy Through Infrastructure with the LV5 CTRL TWR, delivering massive cost savings through a whole new approach. Their success to date gives us full confidence that they will continue to transform the logistics industry and great pride in the innovative spirit of the Korean tech sector.”



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