Participating in the US$25 million Series A as a catalyst to share roles in sensor supply, equipment development, and overseas business
Participants pose for a commemorative photo at the signing ceremony for the memorandum of understanding (MOU) on joint development of thermal imaging sensors and business cooperation held on the 27th. (From left) Kim Han-soo, Director at Obsidian Sensors; Noh Beom-seok, Deputy CEO at P&P Investment; Tallis Chang, CEO of Obsidian Sensors; Lim Do-hyun, CEO of SOO OPTICS; John Hong, CEO of Obsidian Sensors; Choi Yoon-seok, Executive Vice President at Hyundai Corporation; and Park Yong-hwan, Senior Executive at Hyundai Corporation. Photo courtesy of Obsidian Sensors
Obsidian Sensors, Inc., a U.S. thermal imaging sensor company, SOO OPTICS, and Hyundai Corporation announced on the 27th that they had signed a memorandum of understanding (MOU) for joint development of thermal imaging sensors and overseas business cooperation.
This agreement was pursued following the participation of precision optics company SOO OPTICS and Hyundai Corporation in Obsidian Sensors’ Series A funding round.
Obsidian Sensors, headquartered in San Diego, United States, recently completed a Series A fundraising of USD 25 million. Investors from Korea, the United States, and Taiwan participated, and on the Korean side, in addition to the two companies, IBK Industrial Bank of Korea, Korea Omega Investment Finance, and ASIC Land also invested.
Under the agreement, Obsidian Sensors will supply its thermal imaging sensors, while SOO OPTICS will promote the development of thermal imaging equipment and systems using these sensors. Hyundai Corporation plans to seek business opportunities in overseas markets.
Obsidian Sensors explained that by applying its proprietary large-area MEMS (Micro-Electro-Mechanical Systems) manufacturing process, it can reduce production costs to less than one-tenth of those of existing products.
Noh Beom-seok, Deputy CEO of P&P Investment, which arranged this investment, stated that this deal represents a case of linking domestic companies’ capital, manufacturing technology, and overseas business capabilities with a foreign technology company.
Choi Yong-seok
AI-translated with ChatGPT. Provided as is; original Korean text prevails.
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