SEUM Advises StradVision in KRW 31.6 Billion Series B Funding
SEUM advised autonomous driving software developer StradVision in its KRW 31.6 billion Series B funding round, including investments from POSCO Capital, and other VC funds and asset management firms, which resulted in an accumulated fundraising by the company of approximately KRW 47.2 billion.
StradVision is a developer of deep learning software used for automatic emergency braking devices, blind spot detection, lane detection, traffic light and traffic sign detection, driving space detection, and other driving technologies. StradVision has been recognized both domestically and overseas for its innovations in the autonomous driving sector, including, for example, developing technology that analyzes the activities of the driver to prevent driving hazards such as sleeping at the wheel.
StradVision Representative Director Junhwan Kim remarked, “Most of the funds raised from this recent investment round will be used to establish a branch in Germany and to work with our German partners to develop technologies that will allow vehicles to search and reach a destination without the driver’s input.” He added, “We will lead the way until we reach the era of fully autonomous driving and will play a key role in the future development of technologies that will completely change our way of life while also securing a safe road environment.”
SEUM served as a legal partner of StradVision from its incorporation and thus, has advised StradVision in its recent Series B round, as well as its prior funding rounds.
The SEUM team was comprised of partners Hoseok Jung and Seungkyu Byun, as well as associates Jaewoo Sim, Daniel Chong, Junyoung Jang, Jiyeon Bae and Kyungmin Kwak.
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