Morai, an Automotive Simulation Platform Secures $20.8 Million Series B

Morai, an automotive simulation platform secures $20.8 million series B in its plan to expand its global image and footprint.

Morai, an Automotive Simulation Platform Secures $20.8 Million Series B

Morai, an Automotive Simulation Platform Secures $20.8 Million Series B

Morai, which furnishes independent vehicle designers with car simulation devices to check the security and reliability of self-driving frameworks, declared today it has raised $20.8 million (25 billion KRW) in a Series B subsidizing round as it needs to build its global presence, explicitly into the U.S., Germany, Japan, and Singapore.

Who Invested In Morai?

The new capital was driven by Korea Investment Partners alongside KB Investment and Korea Development Bank. Existing financial backers Naver D2 Startup Factory, Hyundai Motor Group, Kakao Ventures and Atinum Investment likewise partook in the round. It brings it’s all-out subsidizing raised to date to $24.9 million (30 billion KRW).

The South Korea-settled startup, which has 84 workers, will likewise utilize the returns to double its headcount worldwide by the finish of this current year, CEO of Morai Jiwon Jung told TechCrunch.

Three fellow benefactors, Jung, Jun Hong and Sugwan Lee, established the organization in 2018 to build independent driving simulation stages that let independent vehicle makers reproduce certifiable test driving.

Numerous independent vehicle organizations utilize dreary simulation tests to demonstrate security and reliability for their self-driving vehicle approval

Morai’s Test System Arrangement Morai SIM

Morai’s test system arrangement, called Morai SIM, provides clients with an assortment of virtual testing situations with its superior quality (HD) map-based 3D simulation conditions.

One of Morai’s most one-of-a-kind elements is its huge scope simulation stages enabled by advanced twin innovation, a computerized imitation of an object in the actual world, prime supporter and CTO of Morai Hong told TechCrunch. Morai SIM was previously duplicated in excess of 20 urban areas across the globe.

Morai at the CES 2022 back in January unveiled the software-as-a-service model of its marai SIM which is also known as morai SIM cloud. This allows users to perform various simulation tests in cloud without going through the process of installing any kind of software into their local computers.

And as a result, users can easily test an AV driver against myriad simulation environments, regardless of the type of hardware they are operating on.

Morai serves over 100 corporate clients, including Hyundai Mobis, Hyundai AutoEver, Naver Labs and 42dot, and research establishments Korea Advanced Institute of Science and Technology (KAIST), Korea Automotive Technology Institute (KATECH) and the Korean Transportation Safety Authority. It likewise has made associations with a variety of global organizations like Nvidia, Ansys, and dSPACE.

Jung said that the organization has considerable development potential because its simulation stages can be applied to independent driving and different regions like urban air mobility (UAM), coordinated operations and shrewd urban communities.

The Startup Posted $1.7 Million of Income In 2021

The startup posted $1.7 million of income in 2021, expanding at a 226% build yearly development rate (CAGR) from 2018 through 2021. Last year, Morai set up its U.S. office in San Francisco.

Jung said “We will direct all our energy into sharpening our technological edge to further enhance our global competitiveness in the autonomous vehicle simulation platform”.

“Morai’s simulator technology is projected to play a critical role in enhancing the safety and functionality of self-driving cars,” the executive director of Korea investment partners said. “We expect to see the continued growth of the company since it has potential to lead the autonomous driving market not only in Korea but globally.”


Please enter your comment!
Please enter your name here