MORAI to Showcase Cloud-Based Autonomous Driving Simulation Technology at Automotive Testing Expo Europe 2022

STUTTGART, Germany, June 21, 2022

MORAI SIM Cloud is the Software as a Service (SaaS) model of the existing MORAI autonomous driving simulator, MORAI SIM, that will allow users to perform simulation tests in the cloud without installing any software onto local computers. The cloud-based offering increases test efficiency as it enables users to run a large number of simulation tests requiring multiple computers to run, with a single computer simultaneously and without hardware restrictions. MORAI SIM Cloud is applied to a variety of industries, including automotive, academia, trucking, defense, aerial, among others.

"As a first-time exhibitor at Automotive Testing Expo Europe 2022, we are looking forward to showcasing our advanced technologies and bringing innovation to the autonomous driving industry," said Jiwon Jung, CEO of MORAI. "We aim to actively engage in sharing our insights in autonomous driving simulation technology with industry leaders at the world's leading industry trade fair and to further foster global partnership."

MORAI is the only developer and distributor of a full-stack autonomous driving simulation platform in South Korea, with more than 100 clients, including Hyundai Mobis, Naver Labs, and Samsung Engineering. MORAI has established its US office in the Bay Area in 2020, and it has been proactively expanding domestic and global business opportunities. MORAI's competitive edge comes from its technology to automatically convert HD map data into digital twins, thereby providing large-scale simulation environments. In February 2022, MORAI successfully secured a USD 23 million Series B funding round to expand its global presence. The round included investment from new investors Korea Investment Partners, KB Investment, and the state-run Korea Development Bank (KDB), bringing MORAI's total funding to date to USD 27 million.

About MORAI

MORAI (www.MORAI.ai) was founded in 2018 as a startup by former Korea Advanced Institute of Science and Technology (KAIST) autonomous driving researchers dedicated to creating autonomous driving simulation platforms, and has since started to provide simulation software for verifying the safety and reliability of self-driving systems. MORAI is the first Korean company to have independently developed a full-stack self-driving simulation solution which includes the core simulation engine. MORAI currently supplies industry, research organizations, and universities with autonomous driving simulation solutions, and is looking to form partnerships with companies from around the world. With a team of over 95 experts dedicated to their respective fields, Naver, Hyundai Motor Company, Kakao Ventures, Korea Credit Guarantee Fund, Atinum Investment, and other major Korean industry players recognized MORAI's potential by participating in its funding rounds. Recently, in February 2022, the company raised USD 23 million through Series B Funding Round with existing investors and new investors such as Korea Investment Partners, KB Investment, and Korea Development Bank, bringing MORAI's total funding to date to USD 27 million.