BlueSignal Knocks on Door of U.S. market with Signing of MOU with CarForce

SEOUL, South Korea, Dec. 4, 2017 /PRNewswire/ -- BlueSignal, a company that has developed an AI-based solution capable of predicting future traffic conditions, will soon be entering the U.S. market.

On December 4, BlueSignal, a member company of K-ICT Born2Global Centre, announced that it has secured a foothold in the U.S. market by signing an MOU with CarForce on November 15, during the K-Global @ Silicon Valley event.

Based in San Francisco, CarForce is a company that uses connected devices to provide car-related data in real time and is currently collaborating with AT&T and Hella Ventures. With the signing of the MOU, BlueSignal expects to achieve an even higher accuracy rate for its predictions of future traffic conditions based on the real-time car data provided by CarForce. On the other hand, CarForce will be able to add BlueSignal's data on diverse future traffic conditions to its car data, resulting in a productive collaboration that is beneficial to both parties.

BlueSignal CEO Jason Baik said, "BlueSignal's technology, which can predict traffic conditions up to two kilometers ahead of a car, is being actively sought by foreign automakers, distributors, and governments of major countries and is now becoming increasingly recognized for its effectiveness. Our recent MOU with CarForce will enable us to not only enter the U.S. market in earnest but also do our part in terms of giving back to society by making BlueSignal's predictive driving technology publicly available through diverse references and experiences."

After receiving an award at an advanced intelligent car technology contest earlier this year for its predictive driving technology, BlueSignal gave a presentation on this technology at the invitation of Singapore's Smart Nation Project. In June, it was selected as a finalist of the Smart Mobility Lab, which is a technology collaboration program run by Infiniti. BlueSignal was one of seven companies selected from around the world.

Currently, BlueSignal is negotiating with NDA and POC planning to sign contracts with prominent foreign automakers and taking necessary steps to apply its predictive driving technology to automobile equipment. By cooperating with Shenzhen Municipal Government, BlueSignal has designated five testbed locations and is conducting various tests at each of them.

In addition, BlueSignal is negotiating with ITS Austria regarding an investment that exceeds the usual Series A investment amount and considering a collaborative project with Pantonium, a Canadian company that provides a dynamic software platform that handles dispatching and routing for vehicle fleets of public and private transportation.

For more detailed information on BlueSingal, please check out www.bluesignal.co.kr

About BlueSignal

Founded in 2015, BlueSignal (www.bluesignal.co.kr) has developed an AI-based engine that uses traffic engineering theory to predict future traffic conditions. The product provides traffic prediction data that informs drivers of and allows them to prepare for various types of traffic situations.

About K-ICT Born2Global Centre

K-ICT Born2Global Centre (www.born2global.com) is a full-cycle service platform for global expansion. Since inception in 2013, Born2Global has been setting the standard for a successful startup ecosystem as the main Korean government agency under the Ministry of Science and ICT. Born2Global has expanded and transformed startups to be engaged, equipped and connected with the global market.

Contact

Jason Baik, CEO of BlueSignal
[email protected]

Jina Lee, PR Manager of Born2Global
[email protected]

SOURCE K-ICT Born2Global Centre