Code42 Raises USD$25M in Pre Series A Financing

Korea
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(from left) On September 30, YoungSang Ryu, EVP (Head of MNO Biz. Division) of SK Telecom; Hanwoo Park, President & CEO of Kia Motors; Chang-hyun Song, CEO of CODE42; I.P. Park, President and CTO of LG Electronics; and KyungMook Lim, Chief Strategy Officer of CJ Corporation met at the SERVEONE Building in Gangnam-gu Seoul, South Korea to attend the CODE42 Investment Signing Ceremony. (PRNewsfoto/CODE42)

Code42, a Seoul, South Korea-based autonomous transport as a service startup, raised USD$25m in Pre Series A financing.

The round was led by Kia Motors (which contributed USD$12.5m), with participation from Korean groups SK, LG and CJ. They joined previous investor Hyundai Motor Company.

The company intends to use the funds to complete the development of the central UMOS (Urban Mobility Operating System) platform, as well as to establish its global autonomous transport ecosystem.

Created in March 2019 and led by Chang-Hyeon Song, CEO, Code42 is an autonomous transport as a service startup. With the promise of serving as a facilitator of autonomous transportation as a service, the UMOS platform aims to integrate several future mobility functions, such as autonomous vehicles, drones and delivery robots to cover all phases of mobility and logistic services, from transportation to transportation, robo-taxi, and electronic commerce.

FinSMEs

31/10/2019

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