South Korean Self-Driving Startup RideFlux Raises $18.8 Million in Series B Round

Philip Lee -

Seoul, South Korea—Autonomous driving software startup RideFlux has secured KRW 26 billion (US$20 million) in Series B funding led by existing investor Atinum Investment. 

This brings its total funding to date to KRW 55.2 billion.

The funding round attracted new investors, including Yuanta Investment, Korea Investment Partners, Murex Partners, IBK Bank, IM Investment Partners, Friend Investment Partners, Korea Investment & Securities, and NVESTOR.

RideFlux, which develops full-stack autonomous driving software, recently achieved a significant milestone by becoming the first company in South Korea to receive temporary permits for unmanned autonomous driving operations.

The company currently operates the world's longest autonomous bus route, covering a 116-kilometer round trip between Jeju City Hall and Seogwipo City Hall.

It also runs a service called "Nemo Ride" in partnership with Kakao Mobility in Jeju's Advanced Science and Technology Complex.

The fresh capital will recruit technical talent and expand autonomous driving operations to major cities, including Seoul's Sangam district and Busan's Osiria.

The company is also developing 25-ton autonomous trucks to enter the cargo transportation market.