A.I.Matics, an AI video telematics solution company spun out of Hyundai Motor Company, has secured large-scale investment from a domestic private equity (PEF) operator, recognizing its growth potential. The company plans to target the commercial vehicle market in North America, where demand for AI-based Fleet Management Systems (FMS) is rapidly increasing.

According to investment banking (IB) industry sources in September, A.I.Matics recently received approximately 16 billion KRW in funding from PEF operator Keystone Partners. Following this investment, Keystone Partners will become A.I.Matics’ second-largest shareholder, after Uninest (holding around 40%).

Founded in 2003 as a Hyundai in-house venture, A.I.Matics specializes in proprietary camera sensor recognition and processing technology, supplying solutions to domestic video device manufacturers. In 2016, A.I.Matics was acquired by Uninest to enhance its technical capabilities. Since then, it has built an industry reputation, supplying advanced AI solutions to major companies such as YuGwang Construction and Cosmo Oil in Japan.

Currently, A.I.Matics is considered one of Korea’s leading FMS platform solution providers. The company’s FMS integrates AI video telematics with fleet management, helping fleet operators manage vehicles more efficiently by optimizing operations and reducing risks. Through its expansion into North America, A.I.Matics aims to strengthen its position as a global FMS provider by analyzing and predicting driver behavior using AI-enabled video data.

Industry sources estimate that the Korean FMS market, worth approximately 600 billion KRW in 2020, will grow to 840 billion KRW by 2023. Keystone Partners, targeting IPO as a mid- to long-term goal, is expected to support A.I.Matics through various value-creation programs (VCP).

Source: Maeil Business Newspaper