RideFlux Earns Double 'A' in Technology Listing Review... Targets KOSDAQ IPO Within the Year

The Only Unmanned Autonomous Driving Test Operation in Korea

Autonomous driving software startup RideFlux announced on May 20 that it has obtained preliminary qualification for listing, having received an ‘A’ rating from both of the professional evaluation institutions designated by the Korea Exchange.

RideFlux Autonomous Driving Truck. RideFlux

The company also stated that, together with its joint lead underwriters, Korea Investment & Securities and Woori Investment & Securities, it plans to initiate the preliminary listing review process soon, aiming to go public on KOSDAQ in the second half of this year.

RideFlux received high marks for its ‘full-stack’ technological capability, which internalizes core unmanned autonomous driving technologies such as perception, decision-making, and control, as well as high-definition map building, AI data solutions, and remote operation. Its Level 4 unmanned autonomous driving software, ‘RideFlux Driver,’ was particularly recognized for its safety and reliability.

The company also conducted long-duration autonomous driving demonstrations on roads, showing stable autonomous driving even in complex road environments, such as construction zones, areas with frequent illegal parking, crossings with frequent jaywalking, and unsignalized intersections.

RideFlux has established a proprietary ‘modular-AI’ architecture with strong explainability and is now advancing its unmanned technology by selectively combining ‘E2E (end-to-end) AI’ technology, which flexibly addresses complex edge cases, into a hybrid system. Over the past three years, the company ranked third globally in the E2E Autonomous Driving Challenge at the world’s most prestigious AI conferences.

RideFlux unmanned autonomous vehicle. RideFlux

In the passenger transport market, RideFlux is the only domestic company to operate unmanned vehicles under official authorization, having conducted over 2,300 hours of test drives of autonomous vehicles without a safety operator in the driver’s seat in Sangam, Seoul, further advancing its unmanned technology. The company plans to launch a robo-taxi service that will be available to the general public within the year.

In the middle-mile freight transport market, RideFlux has developed ‘hub-to-hub’ autonomous driving technology capable of operating not only on highways but also on congested urban roads near toll gates. In April, it became the first company in Korea to obtain a ‘paid autonomous truck freight transport permit’ for the long-distance East Seoul–Jincheon route.

Once contracts with related partners such as manufacturers and logistics companies are finalized, the company plans to begin paid freight transport services between logistics hubs along the Gunsan Port–Jeonju–Daejeon corridor, as well as in Gangneung and Jeju, within the year.

RideFlux currently counts Atinum Investment, Socar, Capstone Partners, and Korea Development Bank as major shareholders. Despite the investment winter, it successfully closed a pre-IPO investment round worth 33 billion won, securing a total accumulated investment of 88.2 billion won. The company is transitioning to high-potential business models such as robo-taxis, robo-trucks, and supplying Level 2+ ADAS to finished vehicle manufacturers, with the goal of turning profitable by 2028.

RideFlux CEO Park Joonghee stated, “This is a meaningful moment as the innovation of our autonomous driving AI technology and the value of unmanned commercialization, which we have devoted ourselves to over the past eight years, have been recognized. Through a successful KOSDAQ listing, we will accelerate the commercialization of autonomous driving in the B2B market and aim to become a leading national physical AI company that pioneers the global market with pure Korean technology.”

This content was produced with the assistance of AI translation services.