SOS Lab, a leading South Korean LiDAR technology startup, announced that it has successfully raised 43 billion won ($30 million) in funding to expand its fabless business for SPAD (Single Photon Avalanche Diode) semiconductors and scale up production of LiDAR systems for robotics applications.

The company disclosed that it has decided to issue its first series of anonymous unsecured private convertible bonds (CB). The convertible bonds carry both a coupon rate and maturity interest rate of 0%, with a conversion price set at 10,857 won per share.

SOS Lab plans to allocate the entire raised capital toward operating funds for its SPAD fabless business and expanding mass production of robot-oriented LiDAR systems. The SPAD fabless business will be pursued through collaborations with global big tech companies and domestic fabless firms. The fabless business model focuses exclusively on design and development, eliminating inventory risks, with manufacturing typically conducted through original equipment manufacturer (OEM) structures.

SPAD is an ultra-sensitive optical sensor capable of detecting single photons and serves as one of the core components in LiDAR systems. Given that SPAD accounts for approximately 40% of the total manufacturing cost of LiDAR systems, internalizing this technology is expected to enable cost reduction, enhanced price competitiveness, and vertical expansion of the value chain.

Beyond LiDAR applications, SPAD technology is utilized in various fields including 3D scanning for drones and mobile devices, precise distance measurement and spatial recognition in augmented reality (AR) and virtual reality (VR) devices. The technology also finds applications in medical equipment such as PET scans and optical communication systems.

SOS Lab intends to apply its self-developed SPAD technology across its diverse LiDAR product portfolio, including fixed 3D LiDAR systems. Through this strategy, the company aims to lead the high-performance sensor market demanded by physical AI-based industries such as autonomous vehicles and robotics.

“We successfully attracted large-scale investment thanks to high recognition of our technological capabilities and differentiated business model,” said a SOS Lab representative. “Through SPAD internalization, we will achieve not only price competitiveness but also technological independence in the LiDAR receiver sector.”