Vueron Technology, a startup leading the way in LiDAR autonomous driving technology, announced on the 29th that it has been selected for the “Scale-Up TIPS” (Tech Investor Program for Scale-up), a program run by the Ministry of SMEs and Startups.
The Scale-Up TIPS program identifies high-potential small and medium-sized enterprises (SMEs) and supports their rapid growth through a combination of private investment and government funding. When a private investor provides 1 billion KRW or more in funding, the government matches this with up to 2 billion KRW in equity investment and provides an additional 1.2 billion KRW in R&D funding over three years.
With its selection, Vueron will receive approximately 1.2 billion KRW in government support over three years and will focus on developing a mass-production solution that integrates both LiDAR and camera sensors. This new sensor fusion solution is expected to lead the autonomous driving and ADAS (Advanced Driver Assistance System) markets by combining Vueron’s existing LiDAR-based technology with advanced camera technology.
As the importance of autonomous driving technology continues to grow in the automotive market, Vueron plans to develop a more robust ADAS solution through a dual sensor system to enhance safety and capture market share. The company views this solution as a key strategy to establish a technological edge in the field of autonomous driving.
Jaekwang Kim, CEO of Vueron, commented, “This selection for the Scale-Up TIPS program will strengthen our technical and business capabilities for developing a mass-production sensor fusion solution. We aim to successfully develop a solution that meets customer demands and leads the global autonomous driving market.”
Since its founding in 2019, Vueron Technology has been developing innovative solutions in the fields of autonomous driving and ADAS. The company’s VueOne autonomous driving solution and VueTwo crowd management solution, featuring Smart Crowd Analytics (SCA), recently won the CES 2024 Innovation Award, gaining international recognition for its technology.
Source : econovill(https://www.econovill.com/news/articleView.html?idxno=665252 )
