Seoul Robotics, a developer of commercial autonomous driving solutions, will pursue an initial public offering (IPO) and has selected Samsung Securities as the lead manager for its listing on the KOSDAQ in 2025. The announcement follows the company securing new partnerships with two global automotive OEMs.
Seoul Robotics itself provides first- and last-mile autonomous driving solutions designed to bring advanced autonomy to controlled environments, such as vehicle production plants. Through its Autonomy through Infrastructure (ATI) strategy, the company’s novel approach and advanced technologies enable OEMs to improve operational efficiencies, navigate labor shortages, and reduce costs.
Its full-stack solution, Level 5 Control Tower (LV5 CTRL TWR), was introduced in 2022 and first deployed by BMW to enhance finished vehicle logistics at its production site in Dingolfing, Germany. Powered by deep learning AI with weather-filtering capabilities, the solution uses a mesh network of sensors and computers on infrastructure to guide vehicles autonomously, without the need for sensors to be fitted on individual vehicles.
By installing sensors equipped with 3D perception software around vehicles – on buildings or overhangs, for example – the system can capture the environment, and communicate with other sensors as well as the 4G/5G systems that come standard on newer vehicles today. LV5 CTRL TWR is at the core of this mechanism, collecting environmental data and using V2X communications to autonomously move vehicles off the factory floor safely and efficiently.
Ahead of its 2025 listing on the KOSDAQ, Seoul Robotics plans to conduct a pre-IPO funding round in 2024. Here, the company will focus on recruiting top talent and intensifying its research and development efforts to further enhance its capabilities, aiming to attract additional major clients in the global market.