Rideflux, a Korean autonomous driving and unmanned transformation startup, has secured $13.9 million (KRW 20 billion) in pre-IPO funding. The company completed this round approximately four weeks after launching it in early December, bringing its total cumulative funding to approximately $52.3 million (KRW 75.2 billion).

Existing shareholder Atinum Investment participated with $6.9 million (KRW 10 billion), while Korea Development Bank joined as a new investor with $6.9 million (KRW 10 billion).

Rideflux’s major shareholders include Atinum Investment, Korea Development Bank, Socar, and Yuanta Investment, who all participated in this funding round. The company is currently in discussions with existing and new investors for additional investment and plans to finalize its pre-IPO round in early 2025. Given the continued investor interest following the initial $13.9 million secured, the final funding amount is expected to increase further.

The rapid progress of this pre-IPO round is attributed to Rideflux’s industry-leading unmanned technology capabilities and its proactive commercialization strategy centered on the autonomous truck market, which offers stronger business viability compared to competitors.

Rideflux is recognized as an industry leader in unmanned technology competitiveness. The company is currently conducting “unmanned permit-based” autonomous driving test operations with an empty driver’s seat in Seoul’s Sangam area, making it the only company in Korea doing so.

Through Sangam unmanned demonstrations, Rideflux has accumulated over 2,300 hours of autonomous driving data with zero accidents. The company aims to launch public service operations beyond self-demonstrations next year.

In the passenger transportation sector, Rideflux has accumulated commercialization experience by operating autonomous public transportation services in major cities nationwide including Seoul, Busan, Sejong, and Jeju. Recently, the company launched Level 4 autonomous car-sharing demonstration services as part of a national project and is preparing to expand into unmanned mobility services such as robotaxis.

In the freight transportation sector, Rideflux plans to begin paid middle-mile autonomous freight transport during the first half of next year with major Korean logistics and manufacturing companies including Samdasoo. As the only Korean company capable of hub-to-hub autonomous truck operations that cover not only highways but also urban roads near logistics hubs before and after tollgates, Rideflux has secured strong competitiveness in areas where faster unmanned operations and commercialization are possible.

Through this pre-IPO funding, Rideflux plans to accelerate various business expansions including advancing End-to-End AI-based unmanned autonomous driving technology and preparing for large-scale commercialization centered on the Ministry of Land, Infrastructure and Transport’s autonomous driving demonstration cities.

The company also plans to focus on IPO preparations targeting a KOSDAQ listing in the second half of next year after completing its pre-IPO round during the year.

“Despite challenging investment conditions, we are grateful to investors who highly valued Rideflux’s technology capabilities and commercialization potential,” said Joong-hee Park, CEO of Rideflux. “We will realize unmanned autonomous driving commercialization most quickly and present new standards for Korea’s autonomous driving industry.”