RideFlux Proactively Secures 20 Billion Won in Pre-IPO Round

Atinum and Korea Development Bank Join Investment
"Fully Unmanned" Technology Recognized for High Competitiveness

Autonomous driving software startup RideFlux announced on the 29th that it has proactively secured a total investment of 20 billion won, about four weeks after launching its pre-IPO round in early December. Including this round, RideFlux’s cumulative investment raised to date amounts to approximately 75.2 billion won.

In this investment round, existing shareholder Atinum Investment contributed 10 billion won, while new investor Korea Development Bank also invested 10 billion won. RideFlux is currently continuing discussions with both existing shareholders and new investors regarding additional investments, and plans to complete its pre-IPO fundraising in early next year.

A RideFlux unmanned autonomous vehicle undergoing test operation in Sangam, Seoul. RideFlux

RideFlux is recognized as an industry leader in unmanned technology competitiveness. The company is currently conducting “unmanned permit-based” autonomous driving test operations in the Sangam area of Seoul, with no driver in the driver’s seat.

Through its unmanned demonstration in Sangam, RideFlux has accumulated more than 2,300 hours of autonomous driving data, with zero accidents occurring during autonomous operation. Next year, the company aims to move beyond its own demonstrations and launch a public service operation.

In the passenger transportation sector, RideFlux has also accumulated commercialization experience by operating autonomous public transportation services in major cities nationwide, including Seoul, Busan, Sejong, and Jeju. Recently, as part of a government 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 transportation sector, RideFlux plans to begin paid middle-mile autonomous freight transport in the first half of next year in partnership with major domestic logistics and manufacturing companies such as Samdasoo.

Through this pre-IPO investment, RideFlux plans to accelerate various business expansions, including the advancement of AI-based unmanned autonomous driving technology and large-scale commercialization centered around the Ministry of Land, Infrastructure and Transport's autonomous driving demonstration cities. Park Junghee, CEO of RideFlux, said, "We will be the fastest to make unmanned autonomous driving commercialization a reality and set a new standard for the domestic autonomous driving industry."