RideFlux, a self-driving startup, filed a preliminary listing review application with the Korea Exchange (KRX) on the 14th to list on the KOSDAQ market, the company said on the 18th. Korea Investment & Securities and Woori Investment & Securities are managing the offering.
In May this year, RideFlux passed a technology evaluation after receiving an A grade from both of the specialized assessment agencies designated by the KRX. If RideFlux succeeds in joining the KOSDAQ, it would mark the first listing among domestic companies developing self-driving software.
Founded in 2018, RideFlux is a leading physical AI company that has developed in-house Level 4 driverless autonomous driving technologies, including perception and localization, decision-making and control, high-definition mapping, and remote operation. Built on its core software architecture, the "RideFlux Driver," the company has secured broad applicability across all vehicle types, including passenger cars, buses and heavy-duty trucks. The company has raised a cumulative 88.2 billion won ($64 million) in investment.
RideFlux is the only company in Korea to have obtained a temporary operation permit from the Ministry of Land, Infrastructure and Transport (MOLIT) for driverless autonomous driving without a safety operator in the driver's seat, accumulating more than 3,300 hours of field-test data in the Sangam area of Seoul. Within this year, the company plans to launch a public driverless robotaxi service in Sangam with an empty driver's seat, with a safety manager in the passenger seat.
The company is also making progress in the commercially promising middle-mile (point-to-point) freight transport market. After becoming the first in Korea to obtain a permit for paid hub-to-hub cargo transport connecting highway and urban sections, it has since July been running regular paid transport of 25-ton heavy-duty self-driving trucks with Hanjin along the Gunsan-Jeonju-Daejeon route (116 km). It is currently in business talks with more than 10 major logistics and manufacturing companies. RideFlux is also partnering with Hyundai Motor Group and others to take part in a large-scale autonomous-driving demonstration city project being pursued across five districts in Gwangju.
"Through a successful KOSDAQ listing, we will advance our physical AI technology and grow into a Level 4 autonomous driving company that leads the global market," said RideFlux CEO Park Joong-hee.
