Recognized at 'ISSCC'... SolidVue, Korea's Sole LiDAR Sensor Chip Commercialization Endeavor

[Interview] Jaehyuk Choi, CEO of SolidVue

"SolidVue prides itself as the only Korean company specializing in the development of CMOS LiDAR (Light Detection and Ranging) sensor ICs with world-class technological capabilities. Two LiDAR-related papers were selected for presentation at 'ISSCC (International Solid-State Circuits Conference) 2024,' scheduled for February next year. This is highly unusual for a Korean fabless company."

Jaehyuk Choi, CEO of SolidVue, recently met with journalists at the company's headquarters in Gyeonggi Pangyo, revealing the company's core competencies and future business strategies.

Jaehyuk Choi, CEO of SolidVue

Established in 2020, SolidVue specializes in designing system-on-chips (SoCs) for LiDAR sensors. LiDAR technology involves emitting infrared lasers to measure the time taken for their reflection, enabling the three-dimensional measurement of surrounding objects' shapes and distances. It is expected to experience the highest growth in future core industries such as autonomous vehicles and smart cities.

Jaehyuk Choi, CEO of SolidVue, has ingeniously developed Solid-State LiDAR sensor chips that replace all components of traditional mechanical LiDAR with semiconductors. According to Choi, utilizing these chips can reduce the volume by up to one-tenth and the cost by a hundredth compared to mechanical LiDAR systems.

SolidVue's LiDAR sensor chips are based on its proprietary development of CMOS SPAD technology. SPAD is an advanced semiconductor optical component capable of detecting extremely small particles of light, enhancing measurement precision. Globally, only a few companies, including SolidVue and Japan's Sony, possess such technological expertise.

Currently, SolidVue views all areas of LiDAR, including short-range, mid-range, and long-range, as potential markets. Among these, the segment progressing most rapidly is the mid-to-long range suitable for autonomous vehicles. In the third quarter of this year, SolidVue has developed an engineering sample of a Solid-State LiDAR sensor chip capable of measuring distances up to 150 meters, undergoing validation. Mass production is targeted for the end of next year.

CEO Choi mentioned, "SolidVue has independently developed various core technologies such as SPAD components, LiDAR sensor architecture, and interference removal technology. Unlike traditional mechanical LiDAR sensors, which consist of multiple chips, SolidVue's advantage lies in its single-chip design that facilitates cost and size reduction."

SolidVue's sensor chip for LiDAR and demonstration images

"Two papers accepted at ISSCC... an unprecedented achievement for a Korean fabless company."

SolidVue, leveraging its technological prowess, has received numerous accolades at the 'ISSCC,' often called the Olympics of the semiconductor industry. Two papers have been accepted for ISSCC 2024, to be held in February next year. The entry of Korean fabless companies into the fiercely competitive ISSCC is unprecedented. At this conference, only SolidVue and Rebellion, designing AI semiconductors, will be presenting.

The groundbreaking technologies that SolidVue will present at this ISSCC include a 50-meter mid-range Solid-State LiDAR sensor featuring 320x240 high-resolution pixels and memory reduction technology, and a 10-meter short-range Flash LiDAR with a resolution of 160x120 and a power consumption of 3 uW per pixel. Both were jointly developed with Sungkyunkwan University and UNIST.

CEO Choi stated, "I cannot disclose specific details before the presentation in February next year, but all technologies boast higher resolution than previous ones. In particular, the mid-range LiDAR sensor technology is already undergoing validation for product application, and we are continuously developing it with the goal of mass production by 2025."

Full steam ahead for fundraising and securing clients

Prior to full-fledged product commercialization, CEO Choi is actively pursuing fundraising and client acquisition for SolidVue. For instance, SolidVue is set to make its debut at the world's largest electronics show 'CES 2024' scheduled for early January next year. Through the support of the Korea Semiconductor Industry Association's 'CES 2024 Korea Sensor Pavilion,' the company plans to demonstrate its 150-meter LiDAR sensor chip ES product.

In its Series B investment completed in October, SolidVue secured a total of 5.5 billion KRW in new funding. KDB Bank, KDB Capital, JBInvestment, and Quad Ventures participated as financial investors (FIs). Additionally, Furonteer, a manufacturer of military-grade camera module automation equipment, joined SolidVue as its first strategic investor (SI).

CEO Jaehyuk Choi stated, "I believe SolidVue and Furonteer can foster cooperation in the LiDAR field from a long-term perspective. We will strive to create synergies that strengthen the competitiveness of each company's products."

IPO targeted for 2025

Plans for listing by 2025 have also been disclosed. Currently, the company is working on selecting a lead underwriter for the IPO, presenting investors with a prospect of long-term revenue growth.

CEO Jaehyuk Choi said, "We aim to maximize sales in line with the forecasted geometric increase in LiDAR demand between 2026 and 2027. To achieve this, we are currently engaging in joint research and development with major corporations and discussing the supply of multiple LiDAR modules."

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