Vueron Technology (CEO Jae Kwang Kim), a specialist in autonomous driving LiDAR solutions, announced on the 27th that it has been selected in the future mobility sector of the 2024 ‘Super Gap Startup 1000+ Project’ (DIPS 1000+) led by the Ministry of SMEs and Startups.
The ‘Super Gap Startup 1000+ Project’ is a flagship initiative aimed at nurturing more than 1,000 deep-tech startups in 10 key emerging industries that will drive the future of the national economy. Over the course of five years, starting from 2023, the project will invest over 2 trillion KRW through a public-private partnership.
Companies selected for the Super Gap Startup program are eligible to receive up to 600 million KRW (approx. $450,000) in commercialization funds and 500 million KRW (approx. $375,000) in R&D funding, amounting to a total of 1.1 billion KRW (approx. $825,000) in support over three years. They will also receive various benefits, including access to policy funds, guarantees, and export assistance.
Vueron is a leading startup in autonomous driving and Advanced Driver Assistance Systems (ADAS) technologies. Its selection in the future mobility sector of the ‘Super Gap Startup 1000+’ project is yet another recognition of its technological prowess and growth potential. The company is accelerating its efforts to mass-produce its LiDAR ADAS solution this year.
Earlier this year, Vueron unveiled its upgraded autonomous driving solution, VueOne, and received global recognition for its innovation and technology at CES 2024, where it won the Innovation Award for its proprietary Smart Crowd Analytics (SCA) feature, integrated into its crowd management solution, VueTwo.
In addition, Vueron strengthened its technical development by appointing Hongmo Je, the former CTO of StradVision and an AI expert, as the new Head of Engineering, to oversee the mass production development. This move is expected to further boost the company’s efforts in both technology development and commercialization.
Jae Kwang Kim, CEO of Vueron Technology, commented, “With our selection as a Super Gap Startup, we anticipate further enhancing our autonomous driving LiDAR solution and accelerating our global market entry. We are continuously pursuing innovation to advance autonomous driving technology and improve safety, and we are working hard to achieve mass production of our solution this year.”
Founded in 2019, Vueron has raised over 10 billion KRW (approx. $7.5 million) in cumulative investments from key investors such as Naver, BonAngels, Korea Development Bank, Timefolio, Daesung Startup Investment, and Intervalue Partners. The company currently offers AI-powered autonomous driving LiDAR solution VueOne and smart infrastructure solution VueTwo.
