LG Electronics Inc. has invested in Apex.AI, a US-based startup developing safety-certified software designed to accelerate the transition of software-defined vehicles (SDVs) and mobility.
Apex.AI announced on Friday that LG Electronics has joined its series B funding round as a strategic investor, becoming the first such Korean investor of the US startup.
The Silicon Valley-based software developer has been raising funds to foster its growth and advance its cutting-edge software solutions for autonomous and connected vehicles.
They did not disclose the investment amount.
LG’s latest investment comes about two months after the two companies signed a memorandum of understanding (MOU) last December to work together to develop a next-generation high-performance computer (HPC) that integrates advanced driver assistance systems (ADAS), cockpit and other controllers, said Apex.AI.
(Courtesy of Apex.AI) "Adding LG Electronics as a strategic investor is an exciting milestone for Apex.AI as we continue to expand our global partnerships," Jan Becker, co-founder and chief executive of Apex.AI, said in a statement.
"LG’s investment underscores the critical role of software-defined vehicle technology in shaping the future of mobility and validates Apex.AI’s approach to delivering scalable, production-ready solutions.”
Apex.AI is recognized for its innovative, safety-certified software solutions tailored for the mobility industry, the startup said.
LG Electronics has upped the ante in the automotive electronics sector to expand its footprint there.
Write to Sookyung Seo at skseo@hankyung.com Jennifer Nicholson-Breen edited this article.
