MORAI closes US$1.8M Series A funding round
Updated: Nov 27, 2020
Seoul, Korea (September 23, 2020) - MORAI, Inc. announced a Series A investment round of KRW US$1.8M from existing investor Naver D2SF, and two new participating VCs, KakaoVentures and Korea Credit Guarantee Fund (KODIT).
Founded in 2018, MORAI delivers testing solutions based on their simulation platform built for the verification and validation of autonomous vehicles. Providing engineers with a wide range of simulation environments that vary from complex city streets to warehouses and shipping yards, MORAI’s solutions help customers test even the most complex edge cases efficiently. Since their initial seed funding round, MORAI has become a valuable partner to more than 30 different organizations in and outside of Korea.
(Photo caption) MORAI’s autonomous vehicle simulation reconstructs complex scenarios in a 3D environment – allowing engineers to test their systems effectively.
The new round of investment caps off a year of continuous growth for MORAI. MORAI has been steadily gaining increasing traction in 2020, joining the Automated with Velodyne program in May, and NVIDIA Inception for startups in September. A branch office was also opened in San Francisco in early July to support increasing business activities in the United States.
“That some of the leading IT companies in Korea have joined us and now share our vision of safety is a great motivator,” said Jiwon Jung, co-founder and CEO. “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.”
MORAI, Inc. is a South Korean startup building simulation tools and solutions for autonomous vehicles and autonomous systems. Providing engineers with detailed photorealistic scenes such as complex city intersections and test racetracks, MORAI’s simulation environments help customers perform verification and validation for their autonomous vehicles. MORAI’s data driven approach delivers value along each step of the autonomous vehicle development process, from the project inception stage to the testing and acceptance trial stage. MORAI’s core simulation platform is currently supplied to key Korean clients throughout industry, academia, and government.
Find more information on MORAI at www.morai.ai