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Press Autonomous a2z Raises KRW 34 Billion in Series B Funding

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작성자 Autonomous a2z 조회 174 작성일 2023-10-10

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A 12-seater driverless shuttle (Project MS) currently being developed by Autonomous a2z. / Photographed by Autonomous a2z

Autonomous driving solution company Autonomous a2z announced on the 10th that it has secured Series B investments of 34 billion won.

New investors such as the Korea Development Bank (KDB), Hana Securities/Hana Ventures, KB Securities, and Explore Investment participated in the Series B investments in addition to existing investors such as Kakao Mobility, KB Investment, and K & Investment Partners. Autonomous a2z has selected Hana Securities and KB Securities as co-organizers for its domestic stock exchange listing, and will begin preparations in 2025.

Autonomous a2z plans to use the funding for the mass production of its driverless mobility vehicle platform and overseas expansion.

Autonomous a2z is developing two driverless mobility solutions: A 12-seater driverless shuttle (Project MS) in the form of a box car and an driverless delivery vehicle (Project SD) that can carry a load of more than 300
. The vehicles can be operated completely autonomously on public roads at a maximum speed of 60/h. They were unveiled for the first time at the 2023 DIFA held on October 19.

The
driverless mobility solution that Autonomous a2z is developing is based on smart cities. With Hana Financial Group and KB Financial Group, the linking of new financial products such as insurance and autonomous vehicle leases can be expected. With the participation of Explore Investment, a venture capital firm (CVC) owned by GS E&C (KRW 15,200 ▲ 710 4.9%), the company can expect synergies when it comes to jointly participating in GS E&C's domestic and overseas smart city projects.

“With an investment of 34 billion won, we will produce a driverless mobility prototype car and start full-scale pilot mass production after going public in 2025,
said Jihyeong Han, CEO of Autonomous a2z. We will also utilize our driverless mobility platform for the Singapore demonstration project currently underway and the European public autonomous shuttle project under discussion to accelerate our entry into the global market, he added.

“Autonomous a2z is a startup that has demonstrated the completeness of its software with an overwhelming demonstration record history,” said Jeong Seong-hun, a division head at KB Securities. 
We participated in this investment because the company has a deep understanding of vehicle manufacturing, he added.



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