SK China has invested tens of millions of dollars in the automatic braking software provider, which will use the cash to enhance its technology and expand its market share.
China-based driving safety technology developer Soterea has secured an eight-figure dollar amount from SK China, a local subsidiary of South Korea-headquartered conglomerate SK Group, in a series A round.
Founded in 2014, Soterea is working on smart driving software that predicts driving risks for commercial vehicles.
The technology uses big data, artificial intelligence (AI) and machine learning algorithms to trigger the automatic emergency braking system in a vehicle in a bid to help reduce accidents.
The funding will go toward…
