SEOUL, South Korea, March 11, 2024 /PRNewswire/ -- Seoul Robotics, a leading industrial autonomous driving company, recently engaged in discussions with Abu Dhabi's Advanced Technology Research Council (ATRC) in the United Arab Emirates (UAE), to explore partnership prospects for joint research and development (R&D) in the field.
This dialogue took place during a visit by ATRC officials to Seoul Robotics' headquarters in Seoul, South Korea, on February 28. The discussions focused on introducing Seoul Robotics and sharing insights into the current state and future outlook of the industrial autonomous driving market, with emphasis on potential collaboration opportunities across R&D.
Discussions focused on autonomous robotics and one of the areas spotlighted was Seoul Robotics' proprietary industrial autonomous driving software, the Level 5 Control Tower (LV5 software), which has garnered attention for its potential application in the automotive logistics sector within the Middle Eastern market. LV5 software enables non-autonomous vehicles to function with the capabilities of autonomous vehicles. Seoul Robotics has already completed contracts with several Asian automotive manufacturers to implement their technology and is currently advancing through the pre-validation (PoC) phase.
Established in 2020, ATRC aims to position Abu Dhabi as a global research and development hub by fostering a cutting-edge technology ecosystem. With strategic priorities in aerospace and space; food and agriculture; healthcare; safety and security; sustainability, environment, and energy; and transport, the Council attracts top talent globally to drive transformative advancements in these sectors, accelerating innovation and fostering global partnerships for mutual progress and prosperity.
South Korea was chosen as the inaugural destination for ATRC's global collaboration efforts this year, with Seoul Robotics being the only startup among 13 organizations visited by the Council during their trip.
Lee Han-bin, CEO of Seoul Robotics, expressed the significance of ATRC's visit and the discussions on partnership as a testament to Seoul Robotics' competitive edge in the industrial autonomous driving sector. He also mentioned that "the visit facilitated through the Abu Dhabi Investment Office (ADIO) could lead to further discussions on investment opportunities in Seoul Robotics' pre-IPO round."
Founded in 2017, Seoul Robotics has established itself as a key player in the industrial autonomous driving software market, serving major global automotive OEMs. The company reported revenues of 3 billion KRW and a gross profit margin of 55% last year, with 80% of its sales coming from the global market. Seoul Robotics is planning a pre-IPO round this year with the goal of listing on the KOSDAQ by 2025, aiming to attract top talent and strengthen its competitive position through focused R&D efforts.
Contacts
Seoul Robotics
pr@seoulrobotics.org
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