Socar Acquires Korean Interior Precision Map Startup Polariant

Korean car-sharing company Socar said on April 17th that it will take over Polariant, an indoor precision positioning technology startup, and accelerate innovation in technology-based mobility platforms. This is the second time that Socar is to take over a startup after VCNC. Polariant is a startup established in 2015 and has been focusing on developing and commercializing PLS (Polarized Light Sensing) solutions, an indoor precision location measurement solution using polarizing light. Interior geometries technology is a technology that can identify location and route of movement even indoors where location-based services such as underground parking lots, large shopping malls and airports are not connected.

Polariant will focus on developing mobility platform technologies with Socar. It plans to upgrade its accumulated precision location technology and develop a space intelligence solution in the mid to long term.  Following its self-driving startup RideFlux in August last year, Socar carried out investments in the electric bicycle-sharing platform “Elecle” in March this year. 

It will continue to aggressively invest to build an ecosystem of South Korea’s mobility platforms and accelerate the innovation of its technology base. “The completeness of the technology possessed by Polariant is very remarkable, and we expect it to bring great technological advancements if it expands into the mobility industry,” said CEO Lee Jae-woong of Socar. “We will create a mobility ecosystem with a variety of startups and companies with the best technology.”

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