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MORAI’s digital twin of Las Vegas. | Supply: MORAI
MORAI introduced in $20.8 million in Collection B funding for its autonomous driving simulation instruments. The corporate has raised a complete of $24.9 million since its founding in 2018.
The Seoul-based firm plans to make use of the funding to broaden its world attain. Final yr, it established its U.S. workplace in San Francisco. MORAI hopes to ascertain workplaces in Germany, Japan and Singapore. In line with CEO Jiwon Jung, the corporate will double its headcount worldwide by the tip of the yr.
“We are going to deal with using the funding to rent high quality skills,” Jung mentioned. “Along with business skills, we are going to proceed sharpening our technological edge to additional improve our world competitiveness.”
Moreover, MORAI will use the funding to analysis completely different purposes for its simulation know-how, together with city air mobility (UAM). MORAI offers high-definition, map-based 3D simulation testing by it’s product MORAI SIM. Simulation testing is a vital a part of the autonomous automobile improvement course of. It offers firms the chance to carry out repetitive simulation checks to show the reliability of its techniques.
MORAI’s digital twin of Duluth. | Supply: MORAI
The corporate has 3D replications of greater than 20 cities all over the world. MORAI SIM can robotically convert HD map information into digital twins. This enables for large-scale simulation environments.
In 2021, the corporate introduced in $1.7 million in income. It has greater than 100 prospects worldwide, together with Hyundai Mobis, Naver Labs and 42dot.
Korea Funding Companions, KB Funding and Korea Improvement Financial institution led the Collection B funding spherical. Current buyers Naver D2 Startup Manufacturing unit, Hyundai Motor Group, Kakao Ventures and Atinum Funding additionally participated.
“MORAI’s simulator know-how will play a key position in enhancing the security and performance of self-driving automobiles,” Geun-ho Kim, government director of Korea Funding Companions, mentioned. “MORAI has the potential to turn into one of many main firms within the world autonomous driving sector, and we’re wanting ahead to the corporate’s future progress.”
The corporate was based by Jung, Jun Hong and Sugwan Lee, all former KAIST autonomous driving researchers who labored on autonomous automobile simulation platforms.
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