The vehicle-to-everything (V2X) semiconductor and communication equipment specialized company Ettifos announced on the 31st that it has raised a total of 17 billion won by finalizing its Series B funding round.
This Series B investment was led by LB Investment, with participation from multiple investors including L&S Venture Capital, Kyobo Securities, KR Ventures, Ditch Investment-IBK Capital, BNK Venture Investment, Evergreen Investment Partners, Stick Ventures, and SL Investment.
This investment attraction is evaluated to have been based on trust in Ettifos's 5G-V2X software-defined modem (SDM) commercialization technology and the 'software-upgradable roadside unit (RSU)' technology that can flexibly respond to the evolution of communication standards without replacing existing hardware.
Ettifos plans to utilize the secured funds for ▲ mass production of C-V2X hardware accelerator semiconductors (based on Samsung Foundry) ▲ development of 3rd generation vehicle terminal V2X-AIR (devices for aftermarket and micromobility) ▲ securing global production bases in the U.S. and Europe ▲ strengthening global marketing and expanding the market ▲ entering new communication markets such as non-terrestrial networks (NTN) and military tactical communication for significant business expansion.
In particular, Ettifos is currently promoting proof of concept (PoC) for various autonomous cooperative driving and drones based on V2X with global automobile manufacturers, and is supplying V2X equipment for the next-generation intelligent transportation system (C-ITS) construction projects in Korea as well as in the U.S. and Europe, thereby expanding its global business foundation.
Previously, Ettifos had secured 8.5 billion won in a Series A funding round. By concluding this Series B investment, it has cumulatively raised a total of 29.5 billion won.