The Series A brings the startup's total raised so far to $130.1 million. The company valuation is now estimated at $425 million (500 billion WON), a source familiar with the matter said. A spokesperson at 42dot declined to comment on the valuation. The latest funding included participation from new investors like Shinhan Financial Group, Lotte Rental, Lotte Ventures, STIC Ventures, We Ventures, DA Value Investment, and others. Returning backers also joined the Series A round, but the spokesperson did not provide their information.

Update Friday 11 December: As per an official Hyundai press release, the South Korean company and SoftBank Group agreed today on the main terms of the transaction. Hyundai Motor "will acquire a controlling interest in Boston Dynamics in a deal that values the mobile robot firm at $1.1 billion," read the statement. The exact financial terms were not disclosed, but the deal will bring Hyundai Motor's mobility expertise into the world of robotics technologies. This move brings Hyundai Motors one step closer to its vision of transforming into a Smart Mobility Solution Provider. "We are delighted to have Boston Dynamics, a world leader in mobile robots, join the Hyundai team. This transaction will unite capabilities of Hyundai Motor Group and Boston Dynamics to spearhead innovation in future mobility," stated Euisun Chung, Chairman of Hyundai Motor.

Hyundai Motors is acquiring Boston Dynamics, according to The Korea Economic Daily. The publication says Softbank has agreed to sell the robot maker for 1 trillion won (US$917 million) and that the acquisition will be finalized at a board meeting today, December 10th. The companies have been discussing a sale since at least early November, based on a previous report by Bloomberg. Boston Dynamics is known for its nightmare-inducing (or oddly adorable, depending on your perspective) robotic dog Spot, which it started selling in mid--2020 for $75,000. The four-legged robot can climb stairs, herd sheep and pull a rickshaw.

A robotic exoskeleton developed by Korean car manufacturer Hyundai has helped a paraplegic sportsman walk over and hug his mother for the first time in 10 years. Korean para-athlete and pro-archer Jun-beom Park was confined to a wheelchair in 2008 after being involved in an accident as a school boy. He damaged his thoracic vertebrae – the small bones that form the spine – in an incident that left him unable to walk. Now, 11 years on, the archery star has taken his'second first steps' thanks to an'exoskeleton suit' developed by Hyundai Motors Robotics Lab in Seoul, South Korea. In a heartwarming video produced by Hyundai, Jun-beom, 28, is seen putting his weight on his legs to stand up from his wheelchair, aided by the Hyundai Medical Exoskeleton (H-MEX).

Hyundai, the world's 5th largest automaker together with affiliate Kia Motors, has been fostering partnerships with self-driving tech and social media firms as it aims to introduce highly automated vehicles by 2020 and fully autonomous vehicles by 2030.

ULSAN, SOUTH KOREA – When Lee Dong-hee came to Ulsan to work for Hyundai Heavy Industries five years ago, shipyards in the city known as Hyundai Town operated day and night and workers could make triple South Korea's annual average salary. But the 52-year-old was laid off in January, joining some 27,000 workers and subcontractors who lost their jobs at Hyundai Heavy between 2015 and 2017 as ship orders plunged. To support their family, Lee's wife took a minimum wage job at a Hyundai Motor supplier. His 20-year-old daughter, who entered a Hyundai Heavy-affiliated university hoping to land a job in Ulsan, is now looking for work elsewhere. The Lee family's fortunes mirror the decline of Ulsan, which is now reeling from Chinese competition, rising labor costs and its overreliance on Hyundai -- one of the giant, family-run conglomerates, known as chaebol, that dominate South Korea.

Seeking to secure new areas of growth, Hyundai Motor, the nation's largest carmaker has launched an in-house research institute to foster future technologies, the company said Tuesday. The lab, named the Strategic Technology Research Institute, will focus on industries that are expected to expand long-term, such as robotics, artificial intelligence, new materials, the sharing economy and information and communications technology. The institute, in Uiwang, just south of Seoul, will also seek ways to commercialize the technologies and nurture startups there, Hyundai Motor said. Read also: Japan's latest mascot is a flying drone puppy The institute will be ran by two separate divisions: One with engineers in charge of research and development, and the other with market strategists developing business models in new technologies, the company added.

SEOUL: Hyundai Motor Group has hired a former General Motors researcher to oversee its centre to develop fully autonomous vehicles, joining other automakers and Silicon Valley giants in accelerating efforts on the fast-growing technology. Lee Jin-woo, 47, who has previously led autonomous driving technology development at General Motors (GM) for more than a decade, will head the newly established Intelligent Safety Technology Centre – a combined research body for Hyundai Motor and its affiliate Kia Motors – starting on Feb 13. "The new centre will not only enhance existing Advanced Drive Assistance System technologies but also conduct research into artificial intelligence related self-driving car technologies with the aim of commercializing those technologies," Hyundai Motor said in a statement on Feb 13. Hyundai Motor and Kia, together the world's fifth-largest automaker, aim to develop highly automated vehicles by 2020 and fully autonomous vehicles by 2030. However, experts say Hyundai needs to do more to catch up with rivals in the self-driving car race. Earlier, Ford Motor Co announced plans to invest US$1bil (RM4.44bil) over the next five years in autonomous vehicle tech firm Argo AI, while GM made a billion-dollar bet a year ago with its acquisition of Silicon Valley self-driving startup Cruise Automation.

SEOUL (Reuters) - Hyundai Motor Group 005380.KS has hired a former General Motors GM.N researcher to oversee its center to develop fully autonomous vehicles, joining other automakers and Silicon Valley giants in accelerating efforts on the fast-growing technology. Lee Jin-woo, 47, who has previously led autonomous driving technology development at General Motors (GM) for more than a decade, will head the newly established Intelligent Safety Technology Center - a combined research body for Hyundai Motor and its affiliate Kia Motors 000270.KS - starting on Monday. "The new centre will not only enhance existing Advanced Drive Assistance System technologies but also conduct research into artificial intelligence related self-driving car technologies with the aim of commercializing those technologies," Hyundai Motor said in a statement on Monday. Hyundai Motor and Kia, together the world's fifth-largest automaker, aim to develop highly automated vehicles by 2020 and fully autonomous vehicles by 2030. However, experts say Hyundai needs to do more to catch up with rivals in the self-driving car race.

As tech and auto companies vie for leadership in self-driving vehicle technology, Hyundai Motor's top priority isn't how fast it can be perfected. Its bigger concerns are keeping costs low enough for the technology to be attainable by mass-market buyers; ensuring people wary of advanced driving-assist systems are comfortable with fully automated cars; and solutions for legal, regulatory and security issues that will dictate how soon robotic vehicles can be deployed. South Korea's largest automaker, which gained U.S. market share in the past decade by adding high-tech content ahead of (and often for less cost) than mass-market competitors, said it will be ready to go head-to-head with rivals in the autonomous vehicle space. And underscoring its approach, prototype vehicles being tested in Nevada and Korea look surprisingly similar to retail versions now hitting the market. "Some companies are announcing very aggressive timelines.