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Automotive Simulation Platform Morai Secures $20.8M Series B To Expand Its Global Footprint

Automotive Simulation Platform Morai Secures $20.8M Series B To Expand Its Global Footprint

02/08/22, 12:00 AM
Money raised
$20.8 million
Industry
transportation
other
software
Round Type
series b
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.

Company Info

Company
Morai
Additional Info
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. Jung said that the company has considerable growth potential because its simulation platforms can be applied to autonomous driving and other areas like urban air mobility (UAM), logistics and smart cities. The startup posted $1.7 million of revenue in 2021, increasing at a 226% compound annual growth rate (CAGR) from 2018 through 2021.