42dot is Hyundai Motor Group's global software center focused on building a standardized software-defined vehicle platform for the group's vehicles. The center aims to complete development of the platform by 2025 and begin rolling it out across the vehicle lineup in 2026. 42dot has announced a partnership with Samsung Electronics to utilize Exynos Auto processors in platform development and contributed customization for Kia Assistant, which uses ChatGPT. Since Hyundai‑Kia's takeover in 2022, the group has injected substantial capital into 42dot, with cumulative investments of roughly 1 trillion won. The company plans to use new funds primarily for aggressive talent acquisition; over 100 job openings are currently listed and the firm says it has no set limits on hiring. Recent and planned funding is structured in phased capital infusions through 2025 to support development and hiring. 42dot develops an urban mobility operating system (UMOS) and two core solutions: AKit, a lidar-free autonomous driving software and hardware stack that uses cameras and imaging sensor radar, and TAP!, an autonomous mobility/logistics platform offering ride-hailing, fleet management, demand-responsive transport, and smart logistics. The company was founded in 2019 and is headquartered in Seoul. 42dot says AKit and TAP! are expected to commercialize in 2023 and its primary clients will be autonomous carmakers and mobility platform operators. It has about 200 employees as of October and plans to use proceeds to advance its AI-based technology, establish joint ventures, hire staff, and pursue growth through investment and M&A. The company has raised $130.1 million to date and its valuation is estimated at $425 million according to a source; a spokesperson declined to comment on valuation. Chang-Hyeon Song is CEO and co-founder and also heads the TaaS team at Hyundai Motor.

Total raised

$270M

Funding rounds

2

Latest round

Equity

Latest activity

Jun 2024