This article was posted on Oct. 28, 2025, at 2:21 p.m. on the ChosunBiz MoneyMove site.
Mate Mobility, which makes one-person autonomous driving golf carts, received a 10 billion won investment from LB Private Equity (PE). Mate Mobility is currently continuing to raise a 30 billion won series B and is negotiating terms with institutions; once the round is finalized, it plans to fully begin mass production of golf carts.
According to the investment banking (IB) industry on the 28th, Mate Mobility recently received a 10 billion won investment from LB PE. The company valuation is 120 billion won on a pre-investment basis.
Mate Mobility was founded immediately after CEO Lee Sang-hyun left Callaway Korea in 2023; Lee had led Callaway Korea for 33 years since 1990. It developed and produces the one-person autonomous driving golf cart Single.
Mate Mobility's one-seat cart Single is an electric mobility (EV) usable on golf courses and began mass production last month. Each golfer can carry their own caddie bag and move to where the ball is. An artificial intelligence (AI)-based driving correction system reflects real course conditions in real time, such as slopes and turf conditions, enabling autonomous driving. It provides remaining distance and course strategy even without a caddie, making it useful for tee times operated as no-caddie.
Mate Mobility recently officially supplied referee-only carts at the European DP World Tour Genesis Championship, which ended at Chungnam's Cheonan Woojung Hills Country Club (CC). Single was previously supplied to LIV Golf Korea in May and was provided to the Korea Professional Golfers' Association (KPGA) tour for referees.
It plans to participate in the U.S. PGA Show in Jan. next year. The company said it secured a large exhibition space and plans to hold demos and sign dealer contracts with local U.S. dealers.
Earlier, Mate Mobility received 12.2 billion won in investment at the series A stage in June last year. At that time the company valuation was 45 billion won on a pre-investment basis. In one year and four months, its value has risen about threefold.