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ADUS Secures Investment for Autonomous Solutions

2024-01-15 2 min read


ADUS Secures Investment for Autonomous Solutions

Reading Time: 2 minutes

ADUS, a Korean autonomous mobility solutions company, has successfully secured a seed bridge investment from AVentures and FuturePlay. The investment amount remains undisclosed.

ADUS specializes in providing global commercial vehicle safety systems and autonomous driving solutions. Operating under the core slogan ‘Autonomy, Safety, and Service for Us,’ the company aims to create scalable and flexible solutions that satisfy all members of the value chain. Established in October 2022, ADUS has quickly boosted its revenue through a mass production development contract with European automotive manufacturers (OEMs) and is expanding its market presence through active collaborations with value chain partners.

This round of investment saw the participation of AVentures as a new investor, while FuturePlay made a follow-up investment to their initial 2023 seed investment.

Jung Jin Yi, a senior team leader at AVentures, praised ADUS’s growth potential and technical expertise, highlighting that, “ADUS is comprised of a team with a deep understanding of the autonomous driving market and has secured contracts with European automotive OEMs thanks to its unique mass production capabilities in Korea.” He also noted, “In particular, we believe ADUS’s solutions, which act as a bridge between automakers and parts suppliers, have the potential to expand into smart ports and other interconnected industries.”

Jaeseok Oh, CEO of ADUS, shared his thoughts, stating, “After the seed investment, we experienced a surge in technical inquiries from related companies, prompting us to advance our initial business plans by about three years to meet expectations. FuturePlay showed tremendous support through rapid follow-up investment, and AVentures significantly enhanced the credibility of our business vision with their detailed and comprehensive business analysis. This makes the success in attracting investment particularly meaningful.”

Following this investment, ADUS is set to accelerate the commercialization of its eADV™ (expandable Autonomous Driving Vehicle) and facilitate the transformation of domestic smart ports. The eADV™, a showcase of ADUS technology, is a vehicle outfitted with an expandable safety integrated solution (SIeVCU™), an autonomous driving solution (eChauffeur™), and an expandable open platform solution technology (eADP™). The funds raised will primarily be allocated to the POC (Proof of Concept) of eADV™ and the recruitment of personnel specializing in AI and other deep tech advancements.

Additionally, ADUS has been recognized as a ‘2023 Gyeonggi Province Export Frontier Company.’ This program, initiated by Gyeonggi Province, selects and certifies outstanding exporting companies aiming for international market expansion. The certification is awarded based on rigorous criteria, including export volume, export readiness, and global competitiveness. The recognized companies are granted benefits, such as additional points when applying for Gyeonggi Province’s overseas trade projects.

[Korean Mobility Startups News]

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