Korean lidar sensor startup SOS LAB has secured series A+ investment totalling USD $8m, starting from a lead investment by the Korea Development Bank, bringing the company’s total capital raised so far to $14m. Despite a decline in general economic activities due to COVID-19, SOS LAB successfully attracted the investment and have now unveiled their plans for the commercialisation of lidar.
SOS LAB have a MOU with ON Semiconductor; the two companies aim to enhance lidar technology commercialisation in the automotive and smart factory markets.
In addition, SOS LAB have built partnerships with automakers and electronic component manufacturers for the development of lidar, and are expressing strong confidence about the commercialisation of car lidar sensors next year. That would be an expansion of their present lidar activities, which include supplying security-lidar to customers like the Busan Port Authority in South Korea and targeting a wider range of applications in security, robotics, industry, and smart city.