Vueron Technology, a leader in LiDAR-based autonomous driving and advanced driver-assistance systems (ADAS), has secured 22 billion KRW (approximately $16.5 million USD) in Series A funding.

The investment round included new participants such as Shinhan Venture Investment, TS Investment, Industrial Bank of Korea (IBK), E&Venture Partners, Quantum Ventures Korea, Woori Financial Capital, JB Investment, and Samho Green Investment. Existing investors like Timefolio Asset Management, Korea Development Bank (KDB), and Daesung Private Equity also followed on in this round.

Vueron successfully attracted this investment due to its outstanding LiDAR perception technology and the strength of its autonomous driving and ADAS solutions. The company is actively working with major automotive manufacturers (OEMs) and Tier 1 suppliers in South Korea, the U.S., Japan, Europe, and other global markets. It is recognized as the only company capable of applying LiDAR-based ADAS in mass production.

In addition to its work in autonomous driving and ADAS, Vueron has also made significant progress in the smart infrastructure sector, completing various projects including crowd management systems, smart poles, and intelligent transportation systems (ITS). With mass production on the horizon in the Korean and Japanese markets, the company is poised for further revenue growth.

With the new funds, Vueron plans to focus on expanding its commercialization team and advancing its technology for large-scale production. The company will also pursue vehicle software certification and validation for LiDAR-based ADAS, aiming to deliver highly reliable software solutions.

Founded in 2019, Vueron has established itself as a leading player in the LiDAR-based autonomous driving and ADAS technology space. Its autonomous driving solution, ‘VueOne,’ is not only applied to vehicles but also to robots, urban air mobility (UAM), and other unmanned platforms. Additionally, its crowd management solution ‘VueTwo’ and Smart Cloud Analytics (SCA) have gained international recognition, including a CES 2024 Innovation Award.

Kunho Park, Director at Shinhan Venture Investment, remarked, “Vueron excels in perception solutions that effectively process LiDAR data. As LiDAR technology continues to become more affordable and compact, its applications are expanding beyond vehicles to include robots, drones, construction equipment, and more. Vueron is already supporting LiDAR adoption for numerous global companies and is rapidly securing a competitive advantage as it builds its portfolio. We anticipate Vueron will play a pivotal role in driving the autonomous driving and ADAS ecosystem forward.”

Jaekwang Kim, CEO of Vueron Technology, said, “This Series A funding is a testament to our technological prowess and the confidence in our future. We are seeing significant progress in the U.S. and Japan, and we are optimistic about achieving similar results in Europe.” He added, “Our goal is to establish Vueron as the world’s leading provider of LiDAR perception solutions. To that end, we are preparing for an IPO by 2026.”