Morai, a Seoul, South Korea-based developer of full-stack autonomous vehicle simulation technology, secured a USD 20m Series B funding round.
The round, which brought total funding to date to USD 25m, included new investors Korea Investment Partners, KB Investment, and the state-run Korea Development Bank (KDB), as well as existing investors Naver’s D2 Startup Factory, Hyundai Motor Group’s ZERO1NE, Kakao Ventures, and Atinum Investment.
The company intends to use the funds to continue to expand operations and its development efforts to further enhance global competitiveness. The funding will also be used to apply its autonomous vehicle simulation technology to other verticals such as urban air mobility (UAM).
Founded in 2018 and led by Jiwon Jung, CEO, Morai is a provider of full-stack autonomous vehicle simulation solutions. Its technology automatically converts HD map data into digital twins, thereby providing large-scale simulation environments.
Having established its US office in the Bay Area, the company plans to further expand its global presence by establishing offices in Germany and Japan, as well as in Singapore, for the company’s digital twin technology efforts.
Morai serves over 100 customers, which include corporate clients like Hyundai Mobis, Hyundai AutoEver, Naver Labs, and 42dot and educational and research institutions like KAIST and the Korea Transportation Safety Authority. It has also formed partnerships with a variety of global players such as NVIDIA, Ansys, and dSPACE.
FinSMEs
08/02/2022