Korean startup Scalar Data, which operates the electric vehicle charging infrastructure platform ‘EV MODU‘ has secured 3 billion KRW (approximately 2.6 million USD) in Series A funding. This investment round included participation from Woori Bank and the Korea Technology Finance Corporation, bringing the total accumulated investment to 6.7 billion KRW (approximately 5.7 million USD).

Since transitioning to a corporate entity in 2019, Scalar Data launched the ‘EV MODU’ app, which has been downloaded over 500,000 times. The app boasts the largest CPO (Charging Point Operator) roaming network in South Korea, solidifying its position as an essential platform used by over 70% of domestic electric vehicle users.

Scalar Data plans to further enhance its dynamic pricing AI model based on electric vehicle charging data. This AI solution predicts and analyzes utilization rates for each charging station, setting optimal real-time (dynamic) fees and maximizing the usage of underutilized chargers. This model is already applied in the ‘Green Time’ service provided by ‘EV MODU’.

Through such power demand management, Scalar Data aims to help users charge their vehicles at lower prices, assist the government and companies in efficient facility operation, and promote the efficient supply of electricity and productive development of the electric vehicle industry. Additionally, they plan to foster an efficient EV ecosystem through the EV-Data Hub, which provides in-depth analysis of charging behavior, station power demand, and charger density.

Yoon Ye-chan, CEO of Scalar Data, stated, “With this investment, we will advance as an EV charging infrastructure company equipped with more sophisticated data solutions. We aim to enable more efficient demand and supply activities for EV charging for users, businesses, and the government.”

Scalar Data, recognized for its differentiated competitiveness, has been selected for the Super Gap Startup 1000+ Project for two consecutive years. In March, it was designated as a slow-charging business operator for 2024. The company also maintains partnerships with prominent domestic and international companies, including Samsung Card, Hankook Tire, and Audi Korea’s official dealer Bayern Auto.