[Financial News] Autonomous driving LiDAR sensor specialist AutoL has successfully secured KRW 1.5 billion in Pre-A series investment, as announced on the 22nd. AutoL plans to accelerate the development of LiDAR sensor products that can contribute to the popularization of autonomous vehicles based on this investment.

AutoL began as an in-house startup at Hyundai Motor. After going through an incubation process for Hyundai Motor's startup, it spun off independently in May of last year. AutoL received recognition for its technological capabilities in addressing issues such as the price, size, and durability of high-resolution LiDAR sensors required for autonomous vehicles, leading to the successful fundraising this time. The investment includes KRW 1 billion from DSC Investment's subsidiary Schmidt and KRW 500 million from AutoL's strategic partner i-Tops Automotive.

LiDAR is a crucial component that serves as the eyes of autonomous vehicles. LiDAR recognizes objects by analyzing the time it takes for light to reflect and return. However, LiDAR is criticized for being more expensive, larger, and less durable in overcoming the harsh environment of vibrating and temperature-changing cars than other sensors, such as radar, which recognizes objects through radio waves. In fact, most autonomous vehicles adopting LiDAR attach a LiDAR sensor protruding from the top of the vehicle.

AutoL solved these problems by controlling the signal of light in its unique way, simplifying the product structure while maintaining resolution and detection distance. AutoL's representative products include a 32-channel LiDAR with a detection distance of 300 meters, a 32-channel LiDAR with a detection distance of 150 meters, and a LiDAR integrated into the headlamp. In particular, the LiDAR integrated into the headlamp is expected to be widely applied to the production of autonomous vehicles in the future, as it does not require modifying the vehicle's exterior design for LiDAR sensor attachment.

AutoL was recognized for its technical capabilities this month and selected as a recipient of the 'TIPS' program, a technology startup support program by the Ministry of SMEs and Startups. Through the TIPS program, AutoL is expected to receive KRW 500 million in research and development funds and up to KRW 200 million in startup business and overseas marketing funds.

As AutoL started as an in-house startup of Hyundai Motor, it is analyzed to demonstrate excellent technological completeness by designing and going through sufficient verification procedures suitable for the automotive environment from the early stages of development.

Yong-Sung Lee, CEO of AutoL, said, "I am pleased to be recognized for AutoL's technological capabilities at a time when LiDAR technology is more needed than ever in line with the global trend toward autonomous driving," and added, "Based on this investment, we will grow into a specialized company that can supply various LiDAR products demanded by the market."

Meanwhile, according to a report by French market research firm Yole Development, the market size of perception sensors for autonomous vehicles, which recorded about $8.6 billion (approximately KRW 10.18 trillion) in 2020, is predicted to grow to about $22 billion (approximately KRW 26.6 trillion) in 2025.

kakim@fnnews.com Kim Kyung-Ah reporter

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