Participation of large investment institutions such as LB Investment and Industrial Bank of Korea
Exploring the Japanese market… Conducting joint tests with local leading companies
5G-V2X-based POC to be conducted with European automakers

Etiforce, a V2X startup that attracted attention last year by developing the world's first 5G-V2X modem, has successfully attracted 8 billion won in Series A investment, raising expectations that it will be able to secure meaningful sales in the V2X market.

Etiphos announced on the 17th that large investment institutions such as LB Investment and Industrial Bank of Korea participated in this Series A investment, and that the total investment amount may change depending on the investment amount of additional participating VCs.

Founded in 2018, Etiforce has focused on the development of V2X modems and equipment, and has been recognized for its technological prowess by completing compatibility testing with Keysight, a global measuring equipment company, for the world's first 5G-V2X modem in 2023.

Based on this technological prowess, Etifos has established itself as a V2X modem and equipment supplier by continuously participating in Korea’s C-ITS (Cooperative Intelligent Transportation System) project, and has secured global customers in the US, EU, Singapore, Taiwan, and UAE.

In addition, we are currently conducting joint tests with major Japanese companies with the aim of entering the Japanese market, and in October, we will be conducting tests in Berlin, Germany.In , we plan to conduct a 5G-V2X-based POC (Proof of Concept) with European automakers.

V2X (Vehicle to Everything) is an essential communication technology for connected cars and Level 4 or higher autonomous driving.

Major countries including the US, EU, China, and Korea are finalizing V2X communication policies and making full-scale investments in V2X infrastructure, and the V2X market is taking shape in earnest.

Etiforce is attracting attention from the industry by developing an SDM (Software Defined Modem) solution that implements the C-V2X method, which has been adopted as a national standard by China, the United States, and Korea, in software.

With the Etiphos SDM solution, road construction and operation organizations such as road authorities can upgrade from the current standard LTE-V2X to the latest standard 5G-V2X with only a software update, without replacing hardware, thereby drastically reducing the costs of infrastructure construction and maintenance.

▲From left, Etiforce CEO Kim Ho-jun and COO Lee Kang-min (Photo courtesy of Etiforce)

Kim Ho-jun, CEO of Etiforce, said, “This Series A investment is significant in that it recognizes the growth potential of the V2X market and Etiforce’s differentiated technological prowess in the capital market.” He added, “With the Series A investment, we plan to secure meaningful sales in the infrastructure V2X market and the aftermarket V2X market for vehicles first, and enter the pre-market vehicle market by supplying V2X semiconductor IP to global vehicle communication semiconductor companies.”He expressed his ambition.

CEO Kim then expressed his gratitude to the employees, saying, “I would like to express my sincere gratitude to the investors who believed in Etiphos’ technology and business viability, and to the Etiphos executives and employees who have been with us through difficult times.”