South Korea’s leading mobility platform operator SoCar has acquired Polariant, a startup that develops positional tracking technology using polarized light detection, the company said April 17.
Polariant is the second startup SoCar has bought, after VCNC, which currently provides ride-sharing service Tada.
Founded in 2015 by three co-founders, Polariant develops polarized light sensing solutions that allow accurate location detection where there is no GPS service, such as underground parking lots or huge shopping centers.
In tandem with SoCar, Polariant will also develop solutions to help the mobility industry.
“The completeness of the technology Polariant has is very meaningful, and if expanded to the mobility industry, it can make further technological advancements,” SoCar CEO Lee Jae-woong said.
SoCar will continue to invest in startups to create a mobility platform ecosystem and accelerate technology-based innovation, Lee added.
By Park Ga-young (email@example.com)