SolidVue, Successfully Attracts Series B Investment
Out of a targeted 5 billion KRW, 4 billion KRW secured, Acknowledged as a Global Star Fabless
The Series B investment round for SolidVue, a domestic LiDAR (Light Detection and Ranging) sensor IC fabricator startup, is progressing smoothly. Recently, it gained industry attention after being recognized as a global star fabricator by the Ministry of Trade, Industry, and Energy.
According to the venture capital industry on the 25th, SolidVue is currently conducting a Series B investment round aiming to raise 5 billion KRW. Already, Quad Ventures and Furonteer have confirmed their investments. Multiple financial institutions and venture capitals are also considering investments.
As of last month, the amount secured for the Series B stands at 4 billion KRW. Four institutions, including Quad Ventures and Furonteer, participated. Plans are in place to conclude additional fundraising to surpass 5 billion KRW by next month, utilizing the secured funds for expanding research personnel, among other objectives.
Furonteer, a specialized company in autonomous vehicle sensing camera fabrication equipment, participating in this investment, is a strategic investor (SI). SolidVue anticipates collaboration with Furonteer in autonomous vehicle LiDAR processing, equipment technology cooperation, and the commercialization of core components for robotics.
Established in November 2020, SolidVue is the only company in South Korea designing LiDAR sensors using System on Chip (SoC) technology, crucial for implementing autonomous driving technology.
SolidVue, co-founded by three individuals including Professors Choi Jaehyuk and Chun Jung-hoon from Sungkyunkwan University's Semiconductor Systems Engineering and Professor Kim Seong-jin from UNIST's Electrical and Electronic Engineering, has gained recognition for its technological prowess both domestically and internationally.
The company's vehicle-fixed LiDAR (Solid-State LiDAR) sensor IC technology has significantly reduced size and cost compared to traditional mechanical LiDAR sensors, boasting a size 100 times smaller and a cost 1/20th compared to competitors.
SolidVue recently experienced an incline. Last month, it was selected as a 'Rising Star Fabless Company' among 20 star fabless companies at the 'Global Star Fabless Launch Ceremony' hosted by the Ministry of Trade, Industry, and Energy. Experts evaluated SolidVue highly based on its growth potential, business competitiveness, core technology possession, as well as the level of expertise in its possession.
As a selected rising star fabless company, SolidVue will receive approximately 1.9 billion KRW in support from the government over the next three years. This funding will enable independent research and development. Participating demand corporations include Hyundai Mobis, Hanamicron, Telechips, and Bitree.
Presently, SolidVue is developing a vehicle-mounted 150m-range long-distance LiDAR sensor IC for domestic conglomerates. The company aims for engineering sample supply in the fourth quarter of this year and mass production in the second half of next year. Concurrently, it is collaborating with domestic LiDAR module companies for the release of robotics, control systems, and industrial LiDAR sensor ICs next year.
Choi Jaehyuk, CEO of SolidVue, stated, "We plan to aggressively reinforce research, development, and business personnel with Series B investment funds to expedite the commercialization of domestic LiDAR sensor technology," adding, "We will prepare for mass production in tandem with market emergence for autonomous driving products." He further explained, "In parallel, we plan to address items currently in demand, like the robotics field, and aim for an IPO as early as 2025 through market validation via technological commercialization."
View original article : 더벨 - 국내 최고 자본시장(Capital Markets) 미디어 (thebell.co.kr)