Korea’s Morai secures US$1.8m funding

Morai has secured US$1.8m in Series A funding for further development of its simulation software for autonomous vehicles.

With the financial boost Kakao Ventures, Korea Credit Guarantee Fund and Naver D2SF, the Korean startup plans to reach out to international customers and partners.

Morai delivers testing solutions based on their simulation platform for the verification and validation of autonomous vehicles. The solutions give engineers a wide range of simulation environments that vary from complex city streets to warehouses and shipping yards.

Since the initial seed funding, Morai has started partnerships with more than 30 different organisations in and outside of Korea.

“That some of the leading IT companies in Korea have joined us and now share our vision of safety is a great motivator. We plan to continue accelerating our growth, while focusing on further developing our technology and building a product that can help make safe autonomous vehicles a reality,” said Jiwon Jung, CEO and Co-founder of Morai.