Previous backers also include South Korea’s GS Caltex, GS Energy and LG Corp, the company said. The spokesperson said that the company will possibly raise additional funding rounds prior to its planned initial public offering between 2022 and the first half of 2023. Kakao Mobility’s sister companies, Kakao Bank and Kakao Pay, listed in August and November, respectively.Korean online payment service Kakao Pay surges nearly 114% on the first day of tradingThe startup will use the fresh capital to advance its AI-powered mobility platform and fuel autonomous driving technology development. Next year, the two companies also plan to launch a pet taxi service, which allows pet owners to use taxis without putting their pets in carriers. According to an industry source, the company posted $237 billion in revenue as of 2020 and expects to generate profits in 2022. “Kakao Mobility is a leading startup in the mobility industry with big data and autonomous driving technology. Kakao Mobility, the South Korea-based mobility as a service (MaaS) startup behind Kakao T, a ride-hailing app, said it has raised an additional $55 million (65 billion won) from strategic investor GS Retail. Kakao Mobility was valued at $3.4billion (4.09 trillion won) as recently as its latest $84.9 million funding (100 billion won) from LG Corp in July, according to the spokesperson. The strategic partnership with GS Retail enables Kakao Mobility to enter the logistics and last-mile delivery business using Kakao Mobility’s transportation management system (TMS) technology that provides optimal routes for delivery vehicles. Kakao Mobility is also developing autonomous driving technology.