GWANGJU, South Korea–(BUSINESS WIRE)–In April 2020, SOS LAB, Korea’s ‘LiDAR’ sensor startup company, attached sequence A+ investment decision of the whole of USD 8 Million beginning from a head purchase from Korea Development Bank (KDB), delivering the company’s whole budget lifted so far to USD 14 Million. It carried on to seduce investments right after obtaining seed money from ‘Future Play’, an accelerator startup investors for tech startups. In addition, the involvement of the IPO workforce of Yuanta Securities from the expenditure affirmed the cost of the presence of SOS LAB as being an emerging technician Startup investors. Other expenditure organizations say for example a undertakings, Emford Equity Partners, Ulmus Investment, KDB Capital, Shinhan Capital and Shinhan Financial Group also participated in the A+ rounded financial investment. Despite a refuse normally economical exercises caused by COVID-19, SOS LAB efficiently attracted a purchase and possesses now revealed its packages to the commercialization of LiDAR.
1) The Benefit SOS LAB Produces in the Autonomous Vehicle Market
It is necessary for a car or truck to pick up data in a variety of situation that develops although driving a vehicle to truly realize autonomous operating technological innovation. On the list of features needed to execute this is usually a sensing unit. There is not any perfect sensing unit which allows standard selection of information in all types of settings.
Thanks to these traits, different kinds of detectors must be used for autonomous driving a vehicle to be able to go with the other. One of the most regularly used sensors are LiDAR, cameras and radar sensors and and this includes, the LiDAR detector, using its high definition, accumulates information about the distance from a motor vehicle together with an subject together with its condition in situations that any digital camera or even a radar sensing unit cannot recognise.
Jiseong Jeong, the CEO of SOS LAB affirms: “In get to commercialize autonomous driving a motor vehicle modern technology that is over stage 3, the modern technology preparedness degree have to be improved so that the engineering is safe enough for shoppers to utilize. A single error in judgement can cause huge hassle and so, safety factors not just a price which can be affected in autonomous operating. Hence, liDAR detectors are unquestionably needed for superior autonomous driving a car.
We have dreamed of a potential in which everybody happenings secure range of motion with autonomous driving technological innovation applied to as many autos as possible. This is exactly why we produced commercialization of your auto LiDAR detector a top top priority. However, there are actually boundaries for commercialization when using mechanized scanning, the framework from the existing LiDAR sensors. This is the reason we guaranteed the main systems for Solid-State LiDAR detector that will fulfill both efficiency and durability whilst enabling volume generation at lower expenditures.”
2) Main Features (Seagate) on the Technology plus the Company’s Potential (MOU, Partnership)
The CEO also states: “The execution of Solid-State LiDAR is vital for car or truck LiDAR commercialization. It is because you will find pros in terms of selling price and sturdiness as it could be muscle size manufactured in little parts and dimensions. Satisfying the predetermined conventional (dimension, degree oflength and energy, etcetera.) may be the task Good-Status LiDAR must triumph over. SOS LAB discovers the best solution into the problem with the core technologies. Our cool product can detect far away physical objects by providing substantial electrical power regardless of its compact measurement, which is actually a beam-steering technologies that does not have any moving pieces.”
The fact is, SOS LAB disclosed ML-1, the item which positioned the aforementioned systems, at CES 2020. It not only clearly shows the reduced volume and cost development possible with the scratch-formed LiDAR but also proved its most important features such as the ability to find things in excess of longer miles and high resilience from the primary systems.
Currently, the OEM and vehicle sector is planning to manufacture cars that have higher than level 3 autonomous driving a vehicle systems from 2021. SOS LAB asserted that the commercialization on the vehicle LiDAR modern technology of the above plan should not be done by merely organizing the engineering, and carried on to explain about its plans for qualification and creation.
Firstly, SOS LAB said that this gets the output/income experience with the existing LiDAR, and this also accelerates the production of ML, a motor vehicle LiDAR detector. ML-1, that is LiDAR on Chip, is promptly remaining created. We have now previously examined the systems and accreditation, and therefore are at this time on the level of analyzing the producing technological innovations. Among the strategies we have for generation is ‘partnerships’.
Partnership is an important element in commercialization since it surpasses getting product durability and strengthening results, to lessen the moment applied for item progression and developing. The method is to rapidly protected overall performance & production and recognition by way of relationships for each and every element and have SOS LAB engage in a central part utilizing its center systems for your sensor’s structure. SOS LAB stated it has not only put into an MOU with ON Semiconductor startup investors in January but additionally establishing partnerships with OEMs and automated aspect manufacturers at home and elsewhere for the development of LiDAR. It proved formidable self-confidence regarding the commercialization of car LiDAR sensor for 2021.
SOS LAB’s Future Business Plans (Roadmap)
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The greatest impression SOS LAB has for the present market place to be a LiDAR new venture is helping it to the long term exactly where LiDAR-fitted driverless cars and trucks traverse just about every avenue. It aspires to create more and more people use harmless systems via the LiDAR modern technology, which is certainly long-lasting and will diagnose items through extended distance. Furthermore, SOS LAB is likely to relocate past the freedom market place and extend its small business to several several areas featuring a LiDAR modern technology. In reality, SOS LAB is now supplying stability remedy LiDAR to clients such as the Busan Port Authority (Korea) and it also expressed its ambitions of extending its parts of advancement like a firm that provides ‘more than safety’ to sells for startup investors security, market and robotics intelligent city, and many others.
To Learn More
Website: http: //soslab.co/
YouTube: https: //www.youtube . com.com/soslab
About SOS LAB
SOS LAB presents LiDAR (Light Detection and Ranging) detectors depending on our in-residence LiDAR engineering. SOS LAB’s LiDAR is likely to make autonomous automobiles, robotics and market sensible location significantly more secure using our substantial-quality and cost-effective two dimensional, 3 dimensional LiDAR devices. We certainly have expertise in carrying out undertakings with SEMES, SK Telecom, and KT due to the fact established in 2016. Now we have finalized a LiDAR collaboration MOU with ON Semiconductor on Jan 2020. Our engineering was honored with CES Asia 2019 Innovation Awards in Vehicle Technology and we have the most patents in South Korea.