Rideflux Raises Funds Ahead of South Korea IPO

Seoul, South Korea - Rideflux announced it raised KRW 20 billion (US$13.9 million) in pre-IPO funding, bringing total accumulated investment to KRW 75.2 billion (US$52.4 million).

Atinum Investment and Korea Development Bank each provided KRW 10 billion (US$7.0 million).

Atinum Investment is an existing shareholder, while Korea Development Bank is a new investor. Other major shareholders include Socar and Yuanta Investment.

Rideflux plans to complete additional funding discussions by early 2026 and proceed with a KOSDAQ initial public offering in the second half of the year.

Funds will be allocated to autonomous driving technology development and business expansion.

Rideflux is conducting unmanned autonomous-driving tests in Sangam-dong, Seoul, without drivers.

The company said it has accumulated over 2,300 hours of driving data and plans to launch public services in 2026.

The company operates pilot autonomous driving services in Seoul, Busan, Sejong, and Jeju for passenger transport. Level 4 autonomous car-sharing demonstrations are also underway.

Rideflux will begin middle-mile autonomous freight operations in the first half of 2026 with logistics and manufacturing companies, including Samdasu.

The company will apply hub-to-hub truck operation technology connecting highways and urban roads.