Lotte Ventures was among the participants in an $88.4m round which will help the mobility platform developer increase headcount and strengthen its technology.

South Korea-based mobility software provider 42dot closed a KRW104bn ($88.4m) series A round yesterday featuring Lotte Ventures, the corporate venturing subsidiary of car rental service Lotte Rental.

Financial services provider Shinhan Financial Group also participated in the round, along with Stic Ventures, Winvest Venture Capital, We Ventures and DA Value Investment. The company said its overall funding now stands at roughly $130m.

Founded in 2019 as Code42, 42dot has developed a transport-as-a-service infrastructure which connects users to different modes of…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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