BOS Semiconductors, an automotive semiconductor developer located in Pangyo Techno Valley in Seongnam-si, Gyeonggi-do, has secured a follow-up investment of 2 billion won (1.5 million USD) from Hyundai Motor Group. In August 2022, Hyundai·Kia invested in BOS Semiconductors through the No. 2 fund of the open innovation platform ZER01NE(Zero One), which was specially established for startup investment.
This investment is a “Simple Agreement for Future Equity (SAFE)” in which funding is first provided to the startups whose corporate value is yet to be assessed, and the investor’s share gets to be determined based on the estimated corporate value when attracting subsequent investment.
BOS Semiconductors is a fabless startup founded in 2022 by CEO Park Jae-hong, former vice president of Samsung Electronics, to design and develop system semiconductors optimized for customer software for vehicles. The goal of BOS is to grow into a global-level fabless company with its strength in high-performance, low-power semiconductor design technology that is essential for automotive semiconductors, its safety-related technology, and AI semiconductor technology required for self-driving cars.
With this investment, Hyundai Motor Group plans to strengthen the collaboration with BOS Semiconductors to develop customized automotive semiconductors that can be partially applied to electric vehicles and self-driving cars. “In the rapidly changing future mobility markets, optimized high-performance semiconductors are becoming more and more important,” an official from Hyundai·Kia said.
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