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Galilei “Pre-Series A Investment Attractions”

Bytomasian

Aug 24, 2022

Studio Galilei announced on the 24th that it has recently attracted pre-series A investment from MY Social Company (MYSC), The Wells Investment, Hankook Tire & Technology, and CNT Tech.

Founded in August 2019, Studio Galilei operates a demand-responsive public transportation (DRT) “Varo DRT” service by first applying “TAMOS (Transit Analysis and Mobility Optimization System), a self-developed Super Fleet Operation platform solution, to the public transportation bus sector. Through this, strategic investment (SI) was first attracted from Kakao Mobility.

MYSC and The Wells Investment, which jointly participated in the investment round with Kakao Mobility, executed their investments through the Korea Impact Scale-Up Investment Association. The Korea Impact Scale-Up Fund aims to focus on impact investment in six areas: job creation, aging (medical and healthcare), education (STEM), 4th industrial revolution, renewable energy, and environmental and climate change in conjunction with UNDGs. In order to achieve SDGs at home and abroad, the two companies made this investment focusing on demand-responsive public transportation (DRT) as a solution to solve the problem of guaranteeing transportation rights.

“DRT is a demand-responsive transportation service that can solve the problem of guaranteeing mobility rights in vulnerable areas due to the widening bus transport deficit in small cities in Korea,” Studio Galilei said. “This investment will help expand economic activities and education opportunities.”

Hankook Tire and CNTTech’s “First Mobility Startup Investment Association” is a fund formed to focus on investment in areas with potential synergy through cooperation with the overall mobility industry and Hankook Tire. Studio Galilei explained that it participated in the investment by highly evaluating TAMOS technology and market value, which are key technologies of DRT.

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