Autonomous driving startup 42dot has received 81 billion won in its latest funding round.
Shinhan Bank, Lotte Rental and Stic Ventures each put in 30 billion won, 25 billion won and 13 billion won, respectively, while the remaining funds were given by previous investors, people familiar with the matter said.
42dot was founded in 2019 and received a seed investment of 2 billion won from Hyundai Motor in March of that year.
It received an additional 30 billion won from Kia, SK Telecom, CJ Group, LG Electronics and LG Uplus in September of that year.
It has so far secured 130 billion won in funding in total.
The company was founded by former Naver emlpoyee Song Chang-hyun.
Hyundai Motor executive chairman Chung Eui-sun met with Song in 2019 to discuss collaboration.
In April this year, Song was named head of transportation as a service at Hyundai Motor. He holds both the CEO position at 42dot and the position at the automobile giant.
42dot offers urban mobility operating system, autonomous kit, autonomous transportation-as-a-service and other solutions.
