Korean accelerator company Future Play has finalized to invest in three mobility companies for its ‘HL Mando Mobility Techup Plus’ Season 4 program, conducted with HL Mando in May last year.
‘Techup Plus’ is a startup discovery program run by Future Play, which supports talents and startups with innovative technologies by adding the business capabilities of large companies. HL Mando is a significant player in Korean automobile parts manufacturing brakes, steering, suspension, and ADAS-related products.
Three companies finally selected through this season 4 program with HL Mando are:
1. Nabifra – SLAM-based self-driving software and multi-robot control solution that can prevent deadlock
2. iPin Labs – deep learning-based AI inertial navigation and Wi-Fi convergence; High-precision, low-cost indoor positioning solution
3. Multiple Eye – SLAM and 3D map construction solution through ultra-wide-angle fisheye 360 -degree camera.
Each company participating in the TechUp Plus Season 4 program receive support for the investment necessary for the initial start and is given practical training required for startup management for 5 months. In addition, Future Play gave 50 million to 100 million won to the three companies selected, and HL Mando made an additional investment of 100 million to 200 million won for the three companies that were finally chosen after graduation. In a total of 150 million to 300 million won was invested.
Companies selected for the HL Mando Mobility Techup Plus program also released detailed introduction videos through EO, a YouTube channel specializing in startups, to enhance their understanding of each company and seek opportunities to be recognized by the public.
Ahn Ji-yoon, director of Future Play, said, “In 2022, HL Mando was able to create successful startup investment and accelerate results with a good partner. We expect more companies to experience the Techup Plus project, which enables CVC work such as strategic investment without establishing a separate organization.” The ‘HL Mando Techup Plus program, which HL Mando and Future Play are working together, discovered and nurtured 14 startups through seasons 1, 2, 3, and 4 from 2019 to 2022.