Hyundai Mobis announced on Thursday that it invested 25 billion won ($20 million) into ACVC Partners and MOTUS Ventures, U.S.-based tech venture capitals located in Silicon Valley.Through the capital injection, Hyundai Mobis aims to secure next-generation business opportunities in future mobility technologies and other growth engines.
Hyundai Mobis also expects that the investments would also secure partnerships with global leaders in autonomous driving, connectivity, and electrification.
ACVC Partners and MOTUS Ventures are tech-funding companies actively discovering and supporting promising startups that specialize in the development of proprietary future mobility technologies in areas such as sensors, robotics, and biometrics. The two venture capitals also support research institutes and university research labs to create synergies with prospective investors.
Actively Investing in Future Mobility Technologies
Since 2018, Hyundai Mobis has been actively investing 1 trillion won ($834 million) in leading companies found here and abroad. In the same year, the company invested in Korea-based startup StradVision specializing in making deep-learning-based camera sensors.
Last year, Hyundai Mobis engaged in direct investment in the joint venture of Hyundai Motor Group and Aptiv. In the same year, the company signed a deal worth around 60 billion won ($50 million) with Velodyne Lidar to mass-produce Level 3 autonomous driving Lidar systems.
Aside from investing in tech funds, the car parts maker invests heavily in startups around the world, further diversifying its investment strategies. As part of the company’s mid-to-long-term R&D strategies, Hyundai Mobis plans to foster global startups focusing on future mobility core technologies and use various partnership opportunities.
The Hyundai Motor Group affiliate intends to create a sustainable ecosystem for collaboration with promising startups from their initial stages.
Currently, the company aims to raise the number of successful and promising case studies by finding budding startups abroad, such as in Europe.