Morai, Inc., a Seoul, South Korea-based developer of autonomous vehicle simulation systems, secured US$1.8M in Series A funding.
Backers included Kakao Ventures and Korea Credit Guarantee Fund (KODIT) as well as existing investor Naver D2SF (Naver D2 Startup Factory).
Led by Jiwon Jung, CEO and Co-Founder, and a member company of Born2Global Centre and Sejong Technopark, Morai delivers testing solutions based on their simulation platform built for the verification and validation of autonomous vehicles. Providing engineers with a wide range of simulation environments that vary from complex city streets to warehouses and shipping yards, its solutions help customers test even the most complex edge cases efficiently. Since their initial seed funding round, the company has started partnerships with more than 30 different organizations in and outside of Korea.
The company intends to use the funds to continue development of its simulation software and scale the platform, to reach out to international customers and partners, building on efforts earlier this year, in which they completed multiple proof of concept programs, joined the Automated with Velodyne program in May, and opened a branch office in San Francisco in July.