AP NEWS

SOS LAB Secures $6M in Series A Funding Round

October 5, 2018

GWANGJU, South Korea--(BUSINESS WIRE)--Oct 5, 2018--SOS LAB, a LiDAR development company focusing on innovative scanning solutions for autonomous vehicles, recently announced the completion of their Series A funding, securing over $6M from several major investment firms in South Korea.

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SOS LAB, a LiDAR development company focusing on innovative scanning solutions for autonomous vehicles, recently announced the completion of their Series A funding, securing over $6M from several major investment firms in South Korea. SOS LAB’s Series A strategic investor is Mando, a top-tier automotive supplier with a well-established global network in the field of mass-producing automotive parts. Other investors in this round include KDB Capital, Mirae Asset, Hancom Investment, Hyundai Investment Partners, SL Investment, WM Investment, BA Partners, RyukyungPSG Asset Management and Future Play.

SOS LAB’s Series A strategic investor is Mando, a top-tier automotive supplier with a well-established global network in the field of mass-producing automotive parts. Other investors in this round include KDB Capital, Mirae Asset, Hancom Investment, Hyundai Investment Partners, SL Investment, WM Investment, BA Partners, RyukyungPSG Asset Management and Future Play. Through this round of funding, SOS LAB has become the first startup company to ever receive an investment by Hancom Investment Corporation, who recently formed a joint investment association with Mirae Asset to focus on full-scale investment in industry 4.0.

“Through our Series A funding, we have created an opportunity to focus on R&D technology and make an all-out effort to attract sales targets and global investors for the next year,” said Jiseong Jeong, CEO of SOS LAB.

Following this successful round of funding, SOS LAB is strengthening its position in global markets beyond South Korea. At the recent AutoSens Conference in Belgium, CEO Jeong hosted a roundtable discussion and presented on a panel showcasing how SOS LAB’s products distinguish the company from other major players in the field. SOS LAB also took first place at the KIC China & Beijing University Incubator Program, raising the possibility of business advancement in China, and was chosen as one of six final teams at the 2018 ‘IP Startup Demo-Day’ in Korea, receiving funding for overseas applications and design development.

SOS LAB is also actively participating in global conferences, heavily focusing on finding global investors and partners in the United States, China, Japan, Hong Kong, and Finland.

About SOS LAB

SOS LAB delivers cutting edge technologies in optical sensors and actuators and is currently focusing on developing optical measurement sensors based on LiDAR technologies for self-driving cars ( SL-1 ), industrial automation and drones ( GL-3 ), and security ( TL-3 ).

View source version on businesswire.com:https://www.businesswire.com/news/home/20181005005114/en/

CONTACT: SOS LAB

Cheonji Moon, +82-62-973-5051

info_global@soslab.co

KEYWORD: ASIA PACIFIC SOUTH KOREA

INDUSTRY KEYWORD: TECHNOLOGY HARDWARE SECURITY SMALL BUSINESS MOBILE/WIRELESS MANUFACTURING AUTOMOTIVE MANUFACTURING AUTOMOTIVE PROFESSIONAL SERVICES GENERAL AUTOMOTIVE

SOURCE: SOS LAB

Copyright Business Wire 2018.

PUB: 10/05/2018 08:00 AM/DISC: 10/05/2018 08:01 AM

http://www.businesswire.com/news/home/20181005005114/en

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