RideFlux, an autonomous driving software startup based in South Korea, has successfully raised 26 billion KRW (approximately 18.6 million USD) in a Series B funding round.

Led by Atinum Investment, a current shareholder, the round also saw participation from Yuanta Investment, Korea Investment Partners, Murex Partners, Industrial Bank of Korea(IBK), iM Investment Partners, Friend Investment Partners, Korea Investment Securities, and Nvestor. With this latest investment, RideFlux’s total funding now exceeds 55.2 billion KRW (approximately 39.4 million USD).

RideFlux is dedicated to developing comprehensive autonomous driving software, aiming for fully unmanned operation. It was the first in Korea to receive a temporary permit for unmanned autonomous driving in June, showcasing its technological prowess.

Since 2020, RideFlux has been enhancing its technology through various public autonomous driving services. This March, in collaboration with Kakao Mobility, it launched the ‘NEMO ride’ service in Jeju Island’s advanced science and technology district. It currently operates the world’s longest autonomous bus route, a 116 km round trip between Jeju City Hall and Seogwipo City Hall.

Expanding into the logistics market, RideFlux is developing an autonomous freight truck for a 61.3 km route between Gunsan Port and Jeonju Logistics Center, destined for supply to the Korea Automotive Technology Institute (JIAT).

This funding will enable RideFlux to focus on attracting technical talent and further developing its unmanned autonomous driving software, aiming to expand its operations. Plans are underway to extend services to major cities like Sangam in Seoul and Osiria in Busan, and to fully launch into the autonomous freight transport market with the completion of a 25-ton autonomous truck.

Cho Wan-gi, Director at Atinum Investment, remarked, “Fully autonomous driving technology has demonstrated its market potential in the United States and China. As a leader in Korea, RideFlux is poised to dominate the market and achieve its strategic goals.”

Jung-hee Park, CEO of RideFlux, added, “This investment is a testament to our leading-edge autonomous driving technology and the growth potential of our company. We are committed to advancing our technology and broadening partnerships with mobility service providers, automakers, and logistics companies to spearhead the commercialization of fully unmanned autonomous driving.”