Seoul Robotics, a South Korean company specializing in LIDAR software, announced that it would contribute its software to the Qualcomm® Smart Cities Accelerator Program.
In addition, the company's LIDAR partner, Velodyne Lidar, Inc (NASDAQ: VLDR, VLDRW), will also join the program to advance the use of LIDAR technology in smart city solutions.
Qualcomm (NASDAQ: QCOM) and Velodyne Lidar, Inc. will work together to develop smart city applications for governments and solution developers.
Seoul Robotics will work with Infinite Computer Solutions, and Automated will work with Velodyne on the project.
The partnership between Seoul Robotics and Velodyne Lidar, Inc. dates back to 2019.
Camera-based Intelligent Transportation System (ITS) traffic monitoring technologies have been widely used to study traffic flow, occupancy, average speed, and spot speed.
However, alternative sensors have highlighted the limitations of camera-based approaches, including poor performance in low-light conditions, susceptibility to optical illusions, and privacy concerns.
On the other hand, LIDAR sensors provide robust 3D data that enables superior object detection and tracking in a wide range of lighting and weather conditions.
Seoul Robotics has been actively pursuing its autonomous driving software business, supplying its LIDAR software to Mercedes-Benz and BMW in nine countries.
The company recently announced a collaboration with BMW to develop a "LIDAR-based detection system" over three years.
If successful, the software could be used in all BMW vehicles.
Founded in 2017, Seoul Robotics completed its Series A funding in April 2020, attracting a total investment of KRW 7 billion (US$6.3 million).
The company's participation in the Qualcomm Smart Cities Accelerator Program signals its continued commitment to advancing LIDAR technology for innovative smart city solutions.