Rideflux, an autonomous driving software startup, announced on December 29 that it has proactively secured a total investment of 20 billion won approximately four weeks after launching its pre-IPO round in early December. Including this round, the company's cumulative fundraising now amounts to about 75.2 billion won.
In this investment, existing shareholder Atinum Investment contributed 10 billion won, while new investor Korea Development Bank also invested 10 billion won. To date, Rideflux's major investors include Atinum Investment, Korea Development Bank, Socar, and Yuanta Investment.
Rideflux is continuing discussions with both existing and new investors regarding additional investments and plans to complete its pre-IPO fundraising in early next year. The company will then focus on preparing for an IPO, targeting a listing on KOSDAQ in the second half of next year.
The company expects the total amount raised to increase, as investor interest remains strong even after the proactive securing of 20 billion won.
The rapid progress of this pre-IPO round is attributed to Rideflux's industry-leading unmanned technology, as well as its proactive commercialization strategy focused on the highly profitable autonomous truck market, setting it apart from competitors.
An unmanned autonomous vehicle by Rideflux undergoing test operation in Sangam, Seoul. Provided by Rideflux
Rideflux is currently the only company in Korea conducting 'unmanned permit-based' autonomous driving test operations in the Sangam area of Seoul, with no driver in the seat.
Through its unmanned demonstration in Sangam, Rideflux has accumulated over 2,300 hours of autonomous driving data and has maintained a record of zero accidents. The company aims to launch public service operations next year.
In the passenger transport sector, Rideflux has also gained commercialization experience by operating autonomous public transportation services in major cities nationwide, including Seoul, Busan, Sejong, and Jeju.
Recently, as part of a national project, the company began a Level 4 autonomous car-sharing demonstration service and is preparing to expand into unmanned mobility services such as robotaxis. In the freight sector, Rideflux plans to begin paid middle-mile autonomous freight transport with major domestic logistics and manufacturing companies, including Samdasoo, in the first half of next year.
Park Junghee, CEO of Rideflux, stated, "We will be the fastest to commercialize unmanned autonomous driving and set a new standard for the domestic autonomous driving industry."
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