AutoL, a startup developing the 'eyes' of autonomous vehicles, has successfully secured a large-scale investment despite the investment downturn. LiDAR sensor specialist startup AutoL announced on the 5th that it has attracted a Series A investment of KRW 11 billion.

Strategic investors (SI) participating in this investment include Hyundai Motor Group's 'Zero One (ZER01NE) 2nd Fund,' Hyundai Wia, Hana Micron, and AutoNomous A2G. Financial investors (FI) such as Schmitt-DSC Future Mobility Fund, L&S Venture Capital, K&T Investment Partners, Seoul Investment Partners, and POSCO Techno-Investment also joined. Among them, Hyundai Motor Group, Hyundai Wia, and Schmitt are follow-up investments.

AutoL is a company spun off from Hyundai Motor's in-house startup in May of last year. It is developing LiDAR (Light Detection and Ranging) sensors, a crucial component of autonomous driving. LiDAR technology involves emitting lasers and analyzing reflected signals to perceive the surroundings. LiDAR surpasses radar sensors in precision but has faced obstacles in commercialization due to durability issues and high costs compared to radar.

AutoL, leveraging its abundant technical expertise, has developed object recognition software and a 32-channel LiDAR for medium and long-range use.

AutoL's LiDAR, based on a self-developed algorithm and years of driving test data, excels in detection in various driving environments.

Furthermore, AutoL has simplified the structure of traditional LiDAR, reducing costs and ensuring durability demanded by automotive companies through rigorous environmental tests. This makes it feasible to provide products for mass-produced vehicles immediately.

With this investment, AutoL plans to accelerate the development of LiDAR products for various purposes.

They aim to hire more development personnel to expedite the development of mass-produced LiDAR for autonomous driving, as well as LiDAR products for various purposes such as robotics, defense, security, and Intelligent Transportation Systems (ITS).

Additionally, they plan to strengthen their overseas sales force to expand into both domestic and international markets.

As LiDAR usage increases in various industries, market size is expected to grow rapidly. Research firm Yole Développement predicted that the global LiDAR market would expand from $13 billion (approximately KRW 1.85 trillion) in 2018 to $60 billion (approximately KRW 8.56 trillion) in 2024.

Lee Yong-sung, CEO of AutoL, expressed his satisfaction, stating, "I am pleased that AutoL's technological capabilities for the popularization of autonomous driving are recognized." He added, "We will do our best in the future for LiDAR development and international market expansion."

Meanwhile, AutoL participated in the 'Automechanika Frankfurt 2022,' the largest automotive parts exhibition in Europe, on the 13th, demonstrating the G32 LiDAR. The G32 LiDAR is the only LiDAR with the durability of domestic automotive grades and aims for mass production in 2023.

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