Seoul Robotics, an infrastructure provider for autonomous mobility, has announced approximately US$25m (£22.3m) in Series B a funding round, led by KB Investment.
Seoul Robotics aims to provide the mobility industry with advanced computer vision for 3D sensors and develop a new approach to automating vehicles, named ‘Autonomy Through Infrastructure’ (ATI).
The ATI project involves placing autonomous driving systems on infrastructure, rather than on each individual car, and represents a holistic perspective on achieving vehicle autonomy.
This approach, according to Seoul Robotics, enhances the scalability and financial viability of intelligent transportation networks by removing the high costs of equipping individual vehicles with cameras and sensors, while also overcoming safety barriers by creating a shared vision without blindspots.
Seoul Robotics intends to use its Series B funding to bring this infrastructure-based autonomous driving solution to the global logistics industry.
“Infrastructure has been assisting drivers since the first traffic light was introduced over a hundred years ago, but unlike the current system, which is designed to assist humans, Seoul Robotics is pioneering a new way to leverage infrastructure that enables autonomous robots and cars to reach their full potential,” said HanBin Lee, CEO and co-founder of Seoul Robotics.
“This groundbreaking approach is made possible through our leading 3D computer vision technology that has been recognised as the most advanced solution in the industry.
“With this funding, we will continue developing industry-transforming solutions that will drive the future of mobility and deliver beyond what we can even conceptualise today.”
Seoul Robotics’ ATI solution, the Level 5 Control Tower, consists of a mesh network of sensors and computers that are installed on infrastructure, which use V2X communication to turn non-autonomous cars into self-driving vehicles.
The tower uses the connectivity already built into modern cars to autonomously manoeuvre them without requiring any hardware upgrades. The tower is powered by Seoul Robotics’ SENSR technology, a patented 3D perception software designed to utilise deep learning and weather-filtering capabilities to provide high-resolution environmental insights.
Reportedly a first-of-its-kind and scalable solution, Seoul Robotics claims this can achieve full Level 5 autonomy and can self-drive hundreds of vehicles at once. It is currently being used to automate finished vehicle logistics at a BMW facility in Germany.
In addition to KB Investment, Noh and Partners, Future Play, Korean Development Bank, Artesian, and Access Ventures also contributed to Seoul Robotics’ Series B funding round.
