Vueron Technology, a leading autonomous driving LiDAR solution provider, announced on the 19th that it is officially entering the global LiDAR market, targeting the ADAS (Advanced Driver Assistance System) sector, with a focus on mass production of its LiDAR solutions.
In its efforts to strengthen its ADAS technology and prepare for mass production, Vueron recently appointed Je Hongmo, former CTO of StradVision, as Head of Engineering. Jaekwang Kim, CEO of Vueron, comes from Hyundai’s Autonomous Driving Center, and the company consists of over 50 employees, including 32 engineers, making it a tech-intensive company.
Founded in 2019, Vueron has raised over 10 billion KRW in cumulative investments from investors including Naver, BonAngels, KDB Bank, Timefolio, Daesung Startup Investment, and Intervalue. The company provides two key solutions: VueOne, its AI-based autonomous driving LiDAR solution, and VueTwo, its smart infrastructure solution.
Jaekwang Kim stated, “The LiDAR market is growing rapidly. By 2030, global demand for LiDAR in the automotive industry is expected to grow at an average annual rate of 40%, reaching over $8.6 billion. From level 3 autonomous driving onward, the safety benefits of LiDAR will outweigh its costs.”
He added, “We are ready to aggressively target the global LiDAR market, which is projected to be worth $8.6 billion. We aim to make this year the foundation for mass production of our upgraded autonomous driving solution, VueOne, and reach sales of 6.7 billion KRW, with a goal of going public in 2026.”
Vueron is regarded as the only startup capable of meeting the strict requirements for mass production of LiDAR-based ADAS. The company made headlines as the first to obtain autonomous driving licenses in both South Korea and the U.S. using just a single LiDAR sensor.
In a testament to its performance, Vueron achieved the top score in the Waymo benchmark for 3D Semantic Segmentation, a key test used by academia and industry to evaluate the ability to classify objects from LiDAR point clouds.
At CES 2024, Vueron received strong interest for its next-generation technologies and products, including ADAS and smart infrastructure solutions. Additionally, the company successfully completed a crowd analysis project in partnership with the Seoul Jongno District Office, using its Smart Crowd Analytics (SCA) system. Vueron also completed a joint autonomous delivery demonstration project with cold chain specialist Team Fresh.
Jaekwang Kim commented, “We are providing software that works with any type of LiDAR sensor, regardless of brand, and our solutions run efficiently on low-power vehicle chips. We believe that Vueron is positioned to complete the final puzzle for mass production of LiDAR-based ADAS. We are also working on obtaining vehicle development process certifications to meet stringent functional and industrial safety requirements.”
The demand for LiDAR solutions is expected to increase across various industries in the future. Vueron is poised to set new standards and introduce a paradigm shift in the industry./csjung@sedaily.com
Source: SENTV (https://www.sentv.co.kr/news/view/684253)
