Hyundai Motor Company and Kia Corporation have joined a new U.S.-based venture capital fund as anchor investors, targeting emerging technologies in artificial intelligence, robotics, and next-generation software.
Factorial Funds, a venture capital firm based in the United States, announced on May 22 the launch of a $200 million institutional fund, with Hyundai and Kia participating as lead backers.
Hyundai and Kia are South Korea’s largest automakers, with a global footprint across mobility, EVs, and advanced manufacturing.
The new fund will focus on investments across the AI value chain, cloud and data infrastructure, robotics, and enterprise software.
Factorial Funds was founded in 2021 by Sol Bier, an early member of Cruise Automation, the autonomous vehicle startup later acquired by General Motors.
The firm has already invested in several high-profile AI startups, including Anthropic, Perplexity, xAI, Mistral, Ayar Labs, SpaceX, and The Bot Company.
Hyundai and Kia’s investment is seen as part of their broader strategy to modernize their manufacturing capabilities.
The companies aim to incorporate AI-driven automation and human-centric smart technologies to advance their mobility systems and elevate production efficiency.
