Hyundai Motor Group is to invest in BOS Semiconductors, a Korean-based fabless startup that designs and develops system-on-chip (SoC) solutions.
Established in 2022, BOS Semiconductors aims to grow into a global fabless company. It is developing system semiconductors based on innovative technologies, such as high-performance, low-power semiconductors, CPUs, graphics cards, and high-speed signal interfaces, which are essential for automotive semiconductors.
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Starting with this investment, the group plans to continuously seek various automotive-related semiconductor technologies and cooperate with diverse chip companies to secure competitive semiconductors for automotive.
For the venture, Hyundai leveraged the second fund of its ZER01NE open innovation platform, which it created in February 2021 with Hyundai Motor Company, Kia Corporation, and Hyundai Motor Securities along with external investors, including Korea Development Bank and Shinhan Bank.
ZER01NE’s second fund has an expanded investment target and scope compared to its first fund, formed in 2018. The group is using the second fund to proactively invest in promising startups to support its future mobility businesses, such as advanced air mobility, eco-friendly vehicles, connected cars, artificial intelligence, and robotics.
Dr. Youngcho Chi, President of the Innovation Division of Hyundai Motor Group, said: “We expect BOS semiconductor to become one of our strategic partners, contributing to the competitive semiconductor technology of the Group’s future mobility. To that end, the Group will continue to work with its various partners in the semiconductor field while investing and supporting other promising startups.”
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By GlobalData
