GWANGJU, South Korea–(BUSINESS WIRE)–In April 2020, SOS LAB, Korea’s ‘LiDAR’ sensing unit start-up organization, anchored selection A+ financial investment of an total of USD 8 Million starting from a direct investment decision from Korea Development Bank (KDB), bringing the company’s total money increased so far to USD 14 Million. It continued to seduce investments immediately after protecting seed backing from ‘Future Play’, an accelerator for tech startups. On top of that, the participation in the IPO organization of Yuanta Securities from the expenditure verified the need for the existence of SOS LAB being an rising technological start up. Other expense companies for instance a undertakings, Emford Equity Partners, Ulmus Investment, KDB Capital, Shinhan Capital and Shinhan Financial Group also participated in the A+ round purchase. Despite a fall typically financial routines as a result of COVID-19, SOS LAB efficiently attracted an investment and has now now introduced its options for any commercialization of LiDAR.
1) The Benefit SOS LAB Brings to the Autonomous Vehicle Market
It is recommended to get a auto to gather data in a lot of situation that comes about when driving to genuinely recognize autonomous operating technologies. Among the list of components had to perform this is the detector. There is absolutely no perfect indicator enabling consistent assortment of data in many circumstances.
Various kinds of sensors must be used for autonomous driving a motor vehicle so they can go with the other,
Due to these kinds of features. By far the most popular devices are LiDAR, radar and high-end camera detectors and and this includes, the LiDAR indicator, featuring a high definition, records info about the space from a auto together with an object along with its condition in surroundings which a digital camera or maybe a radar sensor are not able to realize.
Jiseong Jeong, the CEO of SOS LAB affirms: “In order to commercialize autonomous driving a vehicle engineering that may be over amount 3, the technological innovation preparedness level need to be improved so the technological innovation is safe plenty of for customers to utilize. One single mistake in judgement can lead to massive difficulties therefore, safety factors not really a price that could be sacrificed in autonomous driving a car. Therefore, liDAR sensors are definitely essential for innovative autonomous operating.
We have dreamed of a potential in which absolutely everyone experiences safe movement with autonomous driving a car technology used on as many cars as it can be. That is why we made commercialization of the motor vehicle LiDAR indicator a high priority. One can find limitations for commercialization when using mechanized checking, the system of your active LiDAR devices. This is why we secured the primary systems for Solid-State LiDAR detector that may suit both equally overall performance and durability even though allowing bulk production at minimal expenses.”
2) Main Features (Seagate) from the Technology and also the Company’s Potential (MOU, Partnership)
The CEO also states that: “The execution of Solid-State LiDAR is important for car or truck LiDAR commercialization. Simply because one can find pros with regard to cost and durability as it can be size manufactured in compact styles and ingredients. However, fulfilling the repaired common (dimension, level ofenergy and yardage, etcetera.) is the concern Solid-State LiDAR need to defeat. SOS LAB discovers the best solution into the concern throughout the core technologies. Our new product can find faraway physical objects by presenting great strength despite its modest measurements, and that is a beam-steering technology that lacks any going parts.”
The fact is, SOS LAB disclosed ML-1, the product which installed the aforementioned technologies, at CES 2020. It not merely describes the reduced muscle size and expense output likely of the scratch-shaped LiDAR as well as showed its principal capabilities just like the capacity to diagnose items through prolonged distances and longevity through the central engineering.
Currently, the OEM and car marketplace is planning to make cars and trucks who have earlier mentioned amount 3 autonomous driving a car solutions from 2021. SOS LAB declared that the commercialization from the automobile LiDAR systems of the above strategy should not be carried out by simply preparing the systems, and ongoing to spell out about its strategies for manufacturing and recognition.
Firstly, SOS LAB expressed it gets the output/profits connection with existing LiDAR, and also this speeds up the developing of ML, a vehicle LiDAR indicator. ML-1, which happens to be LiDAR on Chip, is swiftly remaining made. We now have already discussed the engineering and recognition, and they are at present within the stage of going over the manufacturing technologies. One of several strategies we have for output is ‘partnerships’.
Partnership is a crucial element in commercialization as it goes past protecting solution reliability and boosting effectiveness, to minimize the amount of time applied for system improvement and production. The method is to quickly acquire results And productivity and accreditation via relationships for every element as well as have SOS LAB perform a core role using its core technologies for your sensor’s layout. SOS LAB expressed so it has not yet only entered into an MOU with ON Semiconductor in January but also setting up relationships with OEMs and electronic part companies at home and overseas for the creation of LiDAR. It revealed strong confidence about the commercialization of car or truck LiDAR sensor for 2021.
SOS LAB’s Future Business Plans (Roadmap)
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The biggest impact SOS LAB has in the up-to-date current market being a LiDAR startup investment, visit the website, is guiding it to the long term where by LiDAR-fitted driverless cars traverse every single street. It aspires to produce more and more people use safe and sound technology over the LiDAR modern technology, startup investment that is sturdy and can also recognize products over very long ranges. Furthermore, SOS LAB is looking to relocate past the range of motion market and increase its small business to varied unique places with its LiDAR modern technology. The truth is, SOS LAB is presently offering stability answer LiDAR to shoppers similar to the Busan Port Authority (Korea) and it shown its desires of growing its areas of development being a company that provides ‘more than safety’ to trading markets for robotics, marketplace and protection smart metropolis, and many more.
To Find Out More
Website: http: //soslab.co/
YouTube: https: //www.you tube.com/soslab
About SOS LAB
SOS LAB delivers LiDAR (Light Detection and Ranging) devices according to our in-home LiDAR engineering. SOS LAB’s LiDAR will make autonomous robotics, market and vehicles intelligent city much better using our higher-top quality and inexpensive two dimensional, 3 dimensional LiDAR sensors. Now we have knowledge in performing ventures with SEMES, SK Telecom, and KT considering that identified in 2016. We have now agreed upon a LiDAR cooperation MOU with ON Semiconductor on Jan 2020. Our technology was honored with CES Asia 2019 Innovation Awards in Vehicle Technology and we hold the most patents in South Korea.