Smart transportation solution provider Alt-A enlists pre-Series A funding

Alt-A, which provides a transportation system specialized in last-mile roads, said Monday that it has received pre-series A funding from Shinhan Capital. The investment volume is not disclosed.

Alt-A won the championship in the third open innovation program "Hansol V Frontiers" and enlisted investment from Bluepoint and Hansol Group in October last year.

Alt-A is a startup that provides artificial intelligence (AI)-based digital transportation infrastructure to last-mile roads such as small alleys. Currently, infrastructure is under construction in districts in Seoul, South Korea such as Seodaemun-gu, Geumcheon-gu, and Yangcheon-gu.

The company is planning to aggressively expand its infrastructure in the business-to-government (B2G) market through the fund raised this time. It is also preparing to enter the business-to-business (B2B) market for large private lands such as those for distribution centers.

"I would like to express my gratitude to the investors that showed interest in our business vision, even during the recent investment downturn. We will lay the foundation for self-driving on last-mile roads," said Lee Tae-woo, CEO of Alt-A.

Write to Lan Heo at why@hankyung.com