Autonomous Driving Startup RideFlux Secures 26 Billion KRW in Series B Funding

Cumulative Investment of 55.2 Billion KRW
Led by Existing Investor Atinum Investment

Autonomous driving software startup RideFlux announced on the 31st that it has secured 26 billion KRW in Series B funding. This round, led by existing shareholder Atinum Investment, also saw participation from Yuanta Investment, Korea Investment Partners, Murex Partners, IBK Industrial Bank, IM Investment Partners, Friend Investment Partners, Korea Investment & Securities, and Nvestor. With this investment, RideFlux's total accumulated funding has reached 55.2 billion KRW.

RideFlux is a technology company developing autonomous driving software with the goal of unmanned autonomous driving. It received temporary permission for unmanned autonomous driving operations in June, recognizing its technological capabilities. Since 2020, RideFlux has been enhancing its technology through various autonomous driving public services. In March of this year, it launched the 'NemoRide' service in collaboration with Kakao Mobility, operating within the Advanced Science and Technology Complex in Jeju Island. Currently, it operates a route bus-type autonomous driving service over a 116 km round trip between Jeju City Hall and Seogwipo City Hall.

RideFlux Autonomous Vehicle

RideFlux is innovating not only the passenger market but also the logistics market with autonomous driving technology. It plans to develop an autonomous driving freight transport truck to operate over a 61.3 km route between Gunsan Port and Jeonju Logistics Center, which will be supplied to the Jeonbuk Institute of Automotive Technology (JIAT).

Through this funding round, RideFlux plans to focus on recruiting technical talent and developing unmanned autonomous driving software while expanding its business areas. It is preparing to expand service regions to major cities nationwide, including Sangam in Seoul and Osiria in Busan, and will actively enter the autonomous freight transport market once the development of a 25-ton autonomous driving truck is completed.

Junghee Park, CEO of RideFlux, said, “Through this funding round, we have reaffirmed our position as the leading autonomous driving technology company in Korea and our growth potential. We will focus on software to further advance autonomous driving technology and lead the commercialization of fully unmanned autonomous driving by expanding partnerships with mobility service companies, automobile manufacturers, and logistics companies in the future.”