Morai, which provides autonomous vehicle developers with automotive simulation tools to verify the safety and reliability of self-driving systems, announced today it has raised $20.8 million (25 billion KRW) in a Series B funding round as it wants to increase its global presence, specifically into the U.S., Germany, Japan and Singapore.Â
The fresh capital was led by Korea Investment Partners along with KB Investment and Korea Development Bank. Existing investors Naver D2 Startup Factory, Hyundai Motor Group, Kakao Ventures and Atinum Investment also participated in the round. It brings its total funding raised to date to $24.9 million (30 billion KRW).
The South Korea-headquartered startup, which has 84 employees, will also use the proceeds to double its headcount worldwide by the end of this year, CEO of Morai Jiwon Jung told TechCrunch.
Three co-founders, Jung, Jun Hong and Sugwa …
