Hyundai Motor Group raises $91 million fund with Kia and affiliates to back AI startups

Hyundai Motor Group has announced the establishment of its third startup investment fund, raising 125 billion won (US$91.4 million) to back innovative startups in artificial intelligence, robotics, hydrogen, and cybersecurity. This fund, part of the group's ZER01NE accelerator program, includes financial participation from Hyundai Motor Co., Kia Corp., and Hyundai Motor Securities Co.

Hyundai Motor Co. and Kia Corp. each invested 40 billion won, while Hyundai Motor Securities contributed 10 billion won. The fund targets promising startups across South Korea, Japan, and Southeast Asia, aiming to foster cutting-edge technologies and ideas.

Since launching the ZER01NE platform in 2018, Hyundai Motor Group has established two previous funds, which have supported 105 startups and generated over 200 collaboration cases within the group. This new fund is expected to deepen collaboration and accelerate future-ready business initiatives across Hyundai's affiliates.

"By deepening collaboration with innovative startups, we aim to generate meaningful synergies across our affiliates and accelerate our future-ready business initiatives," said Noh Kyu-seung, head of the ZER01NE division at Hyundai Motor Group.

The fund underscores Hyundai Motor Group's commitment to investing in emerging technologies and expanding its innovation ecosystem in the rapidly evolving automotive and tech sectors.

Hyundai Motor Group has launched its third startup investment fund, raising $91.4 million with contributions from Kia and affiliates to support AI, robotics, hydrogen, and cybersecurity startups in South Korea, Japan, and Southeast Asia under its ZER01NE accelerator program.