Korean LiDAR Startup SOS LAB Secure $8 Million Investment

Korea’s LiDAR sensor startup company, SOS LAB, announced that it has secured series A+ investment of a total of US$8 million starting from a lead investment from Korea Development Bank (KDB), bringing the company’s total capital raised so far to US$ 14 million. Despite a decline in general economic activities due to COVID-19, SOS LAB successfully attracted the investment and it has now unveiled its plans for the commercialization of LiDAR.

(Image: SOS LAB)

SOS LAB disclosed ML-1, the product which mounted the aforementioned technology, at CES 2020. Later, the company LAB singed a MOU with ON Semiconductor. The two companies aim to enhance LiDAR technology commercialization in the automotive and smart factory market.

In addition, SOS LAB built partnerships with OEMs and electronic component manufacturers for the development of LiDAR. It showed strong confidence about the commercialization of car LiDAR sensor for 2021.

SOS LAB is also planning to expand its business to various different areas with its LiDAR technology. It is currently supplying security solution LiDAR to customers like the Busan Port Authority in South Korea while targeting a wider range of applications in security, robotics, industry, smart city and more.

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