SOS Lab, Which Has Got a Ton of Attention from CES 2019, is Awarded “LAB Start-Up 2019” by the South Korean Ministry of Science and ICT
Mar 29, 2019

March 29, 2019 08:00 PM Hong Kong Time - GWANGJU, South Korea--(BUSINESS WIRE)--SOS LAB, a LiDAR startup from South Korea whose “Hybrid-Scanning” LiDAR for autonomous vehicles captured the global media’s attention at CES 2019, was recently awarded “LAB Start Up 2019,” by the South Korean Ministry of Science and ICT on February 21, 2019.

Industry leader LEDinside recently named SOS LAB as one of the top four LiDAR companies which received major attention at CES 2019, among other competitors Velodyne, Quanergy and Innoviz. It is notable that these three LiDAR giants, excluding SOS LAB, all have received more than $88M in investment, signaling that the latecomer SOS LAB’s technology and scalability offer a noteworthy distinction within the LiDAR field.

After success on the international stage, SOS LAB was also awarded for its merits domestically at the “LAB Start Up 2019” competition run by the South Korean Ministry of Science and ICT in February. SOS LAB won the award for its technology-intensive startup model and over 15 years of accumulated research experience.

SOS LAB’s patented “Hybrid-Scanning” LiDAR technology combines the advantages of motor-type and solid-state MEMS scanners, both widely used in LiDAR industry, and offers excellent performance, reliability, stability and price competitiveness. With the market for autonomous cars expected to rapidly expand in the next few years, SOS LAB’s hybrid LiDAR is anticipated to play an important role and driving force in the future of this technology.

SOS LAB CEO Jiseong Jeong shared the company’s plans for 2019, which includes jointly developing their hybrid LiDAR with a partner automotive electronic equipment field company, continuing to develop the next generation of Solid-State-LiDAR with global semiconductor companies to overstep the limits of OPA-method LiDAR, and extending the global footprint of SOS LAB to provide the smartest solutions for self-driving and ADAS markets. To this end, SOS LAB is planning to enter global markets based on its R&D centers in Seoul and Gwangju and business centers in Silicon Valley.

# # #

Justin Cho (Chief Investment Officer, US Branch Head)

- ASIA TODAY News Global Distribution